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FxWirePro: EUR/NZD attracts selling interest, vulnerable to more downside

• EUR/NZD dipped  on Thursday   as  dovish tone pushed the euro lower the European Central Bank lifted its main lending rate as expected.

•  The European Central Bank lifted its key lending rate by 75 basis points, the second large-size rate hike in a row and third increase this year.

• Pair fell below the 5-DMA, hit a session low of 1.7039 after ECB meeting .

• From a technical viewpoint, RSI  is bearish at 48 daily momentum studies, 5, 10 and 11 are trending down.

• Immediate resistance is located at 1.7230 (5DMA), any close above will push the pair towards 1.7330(23.6%fib).

• Immediate support is seen at 1.7000(38.2%fib)and break below could take the pair towards 1.6703(Lower BB).

Recommendation: Good to see   around 1.7110, with stop loss of 1.7200 and target price of 1.7000

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