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FxWirePro:EUR/NZD outlook weaker on renewed downside pressure

• EUR/NZD slipped below 1.7600 level  on Friday as   New Zealand dollar continued to maintained positive momentum against euro.

• The week ahead presents significant event risk for the New Zealand Dollar, primarily due to RBNZ Governor Orr's speech.

• EUR/NZD has seen a 1.7675-1.7578 range on Friday, chart points to an drop  towards 1.7500.

• Technical signals show the pair could lose more ground as RSI is at 45, and 9, 11,21 DMA’s are trending south.

• Immediate resistance is located at 1.7665(38.2%fib), any close above will push the pair towards 1.7743 (50%fib).

• Immediate support is seen at 1.7556(23.6%fib) and break below could take the pair towards 1.7505(Lower BB).

Recommendation: Good to sell around 1.7590, with stop loss of 1.7680 and target price of 1.7500

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