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FxWirePro: EUR/ NZD attracts selling interest after ECB rate decision,good to sell on rally

• EUR/ NZD declined on Thursday  as investors shrugged off hawkish messages from the European Central Bank.

• The ECB raised interest rates for the fifth successive time on Thursday and signalled another half a percentage point increase for March but left its options open further ahead.

• EUR/AUD drops below the 21-DMA  , slide halts at the 1.6750 (23.6%fib),break below will accelerate towards  1.6700 level.

• Technical are bearish, daily RSI is negative at 44, daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.6837 (21DMA ), any close above will push the pair towards 1.6912 (Daily high).

• Strong support is seen at 1.6750 (23.6%fib ), and break below could take the pair towards 1.6675(Lower BB).

Recommendation: Good to sell on  around 1.6830, with stop loss of 1.6930 and target price of 1.6760

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