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FxWirePro: EUR/NZD drifts lower , could be on verge of a bigger drop

• EUR/NZD eased towards  1.7655 on Tuesday as   investors sought fresh clues about when central banks would begin implementing rate cuts..

• European Central Bank policymaker Boris Vujcic said that there is no urgency for the ECB to rush into cutting rates.

• From a technical viewpoint, RSI  is strongly beraish at 45, daily momentum studies, 5, 10 and 11 daily  MAs are pointing lower.

• Immediate resistance is located at 1.7696(38.2%fib), any close above will push the pair towards 1.7684(Feb 6th high).

• Immediate support is seen at 1.7608(50%fib) and break below could take the pair towards 1.7526(61.8%fib).

Recommendation: Good to sell around 1.7640 , with stop loss of 1.7700 and target price of 1.7570
 

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