• EUR/NZD declined on Wednesday as signs of easing tensions between Russia and Ukraine lifted risk appetite.
• Tensions eased between Russia and the West over Ukraine, while United States said they have not seen Russia pull back troops from Ukraine's borders.
• Technical signals show the pair could lose more ground as RSI has turned lower, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.7052 (5 DMA), any close above will push the pair towards 1.7103 (50%fib).
• Immediate support is seen at 1.6997 (38.2%fib) and break below could take the pair towards 1.6900 (Psychological level).
Recommendation: Good to sell round 1.7020, with stop loss of 1.7100 and target price of 1.6940
