• EUR/NZD traded in tight range on Thursday as market waiting for Fed Chair Powell's speech on Friday
• Traders are gearing for a hawkish event, which could stem from talk about the neutral rate of interest and whether the Fed chair signals that it has indeed increased..
• EUR/ NZD has seen a 1.6757 -1.6863 range on Thursday, signals suggest further range trading.
• Technical signals show the pair could lose more ground as RSI has turned bearish, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.8256 (5DMA), any close above will push the pair towards 1.8286 (38.2% fib).
• Immediate support is seen at 1.8159 (Daily low) and break below could take the pair towards 1.8125 (50% fib).
Recommendation: Good to sell round 1.8250, with stop loss of 1.8380 and target price of 1.8150
