• EUR/ NZD recovered some ground on Friday as the pair’s lift was aided by profit-taking on shorts .
• The pair is holding near today's high, but repeated failures to push above 38.2 % fib is discouraging longs.
• Technical signals are bearish as RSI is at 36, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.7625 (38.2 % fib), any close above will push the pair towards 1.7696(10DMA)
• Support is seen at 1.7461 (23.6 % fib) and break below could take the pair towards 1.7397 (June 13th low).
Recommendation: Good to sell around 1.7590, with stop loss of 1.7700 and target price of 1.7500
