• EUR/NZD recovered some ground from recent slump on Tuesday but gains were limited as investors awaited fresh catalyst.
• Investors face a busy week ahead with a plethora of economic data which will help shape market expectations about monetary policy actions from the Fed and ECB.
•Technicals are favouring bearish sentiment as RSI is trending lower at 42 and the pair is trading below 5,9 & 21-DMAs.
• Immediate resistance is located at 1.7531 (Dec 29th high), any close above will push the pair towards 1.7572 (38.2%fib).
• Immediate support is seen at 1.7436 (23.6%fib) and break below could take the pair towards 1.7380 (Lower BB).
Recommendation: Good to sell round 1.7520, with stop loss of 1.7650 and target price of 1.6430
