• EUR/NZD rebounded from recent slump on Wednesday but gains were limited investors awaited fresh catalyst
• The currency pair is not showing any clear trend at the moment and is having trouble breaking above resistance at 1.7553 (38.2%fib).
•Technicals are favouring bearish sentiment as RSI is trending lower t37 and the pair is trading below 5,9 & 21-DMAs.
• Immediate resistance is located at 1.7526 (38.2%fib), any close above will push the pair towards 1.7559 (5DMA).
• Immediate support is seen at 1.7460 (Dec 14th low) and break below could take the pair towards 1.7380 (23.6%fib).
Recommendation: Good to sell round 1.7530, with stop loss of 1.7650 and target price of 1.6470
