• EUR/NZD initially gained on Wednesday reversed course ahead of key Euro zone and U.S. inflation data Friday.
• The Eurozone's inflation data, set to be released on Friday, will be closely monitored for indications of when the central bank might begin easing its policies.
• EUR/NZD fell 0.07%, retreating from today's failed attempt to clear 38.2%fib resitence.
•Technicals are favouring bearish sentiment as RSI is at 34 and the pair is trading below 5,9 & 21-DMAs.
• Immediate resistance is located at 1.7714 (38.2%fib), any close above will push the pair towards 1.7768(50%fib).
• Immediate support is seen at 1.7639(23.6%fib) and break below could take the pair towards 1.7613 (Lower BB).
Recommendation: Good to sell round 1.7660, with stop loss of 1.7780 and target price of 1.7600
