• EUR/NZD declined on Thursday as higher oil prices and buoyed risk sentiment boosted kiwi dollar.
• Bearish signals are increasing as the pair falls below the 5-DMa & 50%fib support
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 44.
• Immediate resistance is located at 1.7604 ( 50%fib), any close above will push the pair towards 1.7604 (14DMA).
• Immediate support is seen at 1.7500 (38.2%fib) and break below could take the pair towards 1.7446 (Lower BB).
Recommendation: Good to sell around 1.7580, with stop loss of 1.7680 and target price of 1.7520
