• EUR/NZD eased on Thursday as early gains that followed upbeat German and euro zone PMIs unraveled in the wake of U.S. PMI.
• A close below support at 1.7719(23.6%fib)will give further momentum to bears, opening the way for a run towards 1.7650 level.
•Technicals are favouring bearish sentiment as RSI is at 38 and the pair is trading below 5,9 & 21-DMAs.
• Immediate resistance is located at 1.7772 (Daily high), any close above will push the pair towards 1.7813 (38.2%fib).
• Immediate support is seen at 1.7719(23.6%fib) and break below could take the pair towards 1.7652 (Lower BB).
Recommendation: Good to sell round 1.7730, with stop loss of 1.7800 and target price of 1.7650
