• EUR/NZD declined on Tuesday as investors continue to lean on bearish influences ahead of key U.S. CPI and Fed meeting risks.
• EUR/NZD shorts remain in charge ahead of key risks from U.S. May CPI and the Fed's policy meeting.
• At GMT 16:57, the pair was trading down 0.40 percent at 1.7497.Lowest level since 23rd February.
• Technical signals show the pair could lose more ground as RSI is falling at 34, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.7609(38.2%fib), any close above will push the pair towards 1.7701(50%fib).
• Immediate support is seen at 1.7496 (23.6%fib) and break below could take the pair towards 1.7531(Lower BB ).
Recommendation: Good to sell round 1.7500, with stop loss of 1.7640 and target price of 1.7410
