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FxWirePro:EUR/NZD under pressure , knocking on door of key support

• EUR/NZD declined on Monday  as  lingering concerns over the U.S. debt ceiling impasse kept sentiment fragile.

• A close below   support at 1.7164  (38.2%fib) will give further momentum to bears, opening the way for a run towards 1.7100  level.

•Technicals are favouring bearish sentiment as RSI is   falling and the pair is trading below   5,9 & 21-DMAs.

• Immediate resistance is located at 1.7293 (5DMA), any close above will push the pair towards 1.7304 (38.2%fib).

• Immediate support is seen at 1.7164  (38.2%fib) and break below could take the pair towards 1.7067 (Lower BB).

Recommendation: Good to sell round 1.7210, with stop loss of 1.7300 and target price of 1.7150

 

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