• EUR/NZD traded in tight range on Wednesday as investors focus shifted to this week’s key economic data.
• Investors were cautious ahead of this week's crucial U.S. labor market and US ISM releases ,key inflation data from France and Germany.
•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
