• EUR/NZD declined sharply on Monday after French President Emmanuel Macron called a snap election.
• The prospect of fresh political uncertainty in the euro zone's second-biggest economy weighed on sentiment.
• At GMT 16:40, the pair was trading down 0.73 percent at 1.7570, its lowest since June 6th.
• Technical signals show the pair could lose more ground as RSI is falling at 38, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.7642(38.2%fib), any close above will push the pair towards 1.7708 (50%fib).
• Immediate support is seen at 1.7554 (23.6%fib) and break below could take the pair towards 1.7481(Lower BB ).
Recommendation: Good to sell round 1.7580, with stop loss of 1.7700 and target price of 1.7500
