FxWirePro:EUR/NZD falls after ECB rate decision, plunge to test a key fibo grows

• EUR/NZD dipped  on Thursday  after European Central Bank's   maintained interest rates at a record high of 4%, as widely anticipated.

• The European Central Bank  opted to maintain its deposit rate at 4.0%, consistent with the level set in September. The decision aligned with ongoing 18-month endeavor to control inflation.

• At GMT 17:39, the pair was trading down 0.46 percent  at 1.7893 after reaching daily low at 1.7868.

•Technically, the moving averages are indicating a downward trend, while the Relative Strength Index (RSI) is strongly bearish at 48.

• Immediate resistance is located at 1.7935(38.2%fib), any close above will push the pair towards 1.7962((EMA).

• Immediate support is seen at 1.7840 (50%fib) and break below could take the pair towards 1.7791 (March 5th low).

Recommendation: Good to sell  around 1.7900, with stop loss of 1.8000 and target price of 1.7830