• EUR/NZD initially gained on Wednesday but gave up most of the ground as higher commodity prices and an upbeat survey on China's services sector data boosted kiwi dollar.
• The kiwi dollar was also helped by a solid rise in prices at the latest global dairy auction.
• The pair is holding near today's high, but repeated failures to push above 1.8076 (23.6%fib) is discouraging longs.
• Immediate resistance is located at 1.8076 (23.6%fib), any close above will push the pair towards 1.8099 (March 28th high).
• Immediate support is seen at 1.8007 (EMA 9) and break below could take the pair towards 1.7951(38.2%fib).
Recommendation: Good to sell round 1.8040, with stop loss of 1.8150 and target price of 1.7940
