• EUR/NZD declined on Wednesday as the pair attracted sellers ahead of ECB meeting on Thursday.
• The pair traded down to 1.6919 and was around there into the US afternoon.
• The pairs bias is lower, but progress will likely be slowed 14 DMA support at 1.6914
• Technical signals are bearish as RSI is at 49, daily momentum studies 9 , 10 and 14 DMAs are flat.
• Immediate resistance is located at 1.6943 (50%fib ), any close above will push the pair towards 1.6999 (61.8%fib).
• Strong support is seen at 1.6914 (14DMA) and break below could take the pair towards 1.6893 (38.2%fib).
Recommendation: Good to sell on rallies around 1.6940, with stop loss of 1.7000 and target price of 1.6860.
