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• EUR/NZD dipped on Tuesday as worries over global growth , geopolitical tensions and economic uncertainty kept investors cautious
• Investors shrugged off a largely-expected French presidential election result and focused on growth risks amid fears coronavirus restrictions in China would extend to Beijing.
• The pair hit daily low at 1.6096 and was last trading around there at 1.6113 into the US afternoon.
• Immediate resistance is located at 1.6285(50%fib), any close above will push the pair towards 1.6359 (25th April high).
• Strong support is seen at 1.6180 (5DMA) and break below could take the pair towards 1.6096 (38.2%fib).
Recommendation: Good to sell around 1.6200, with stop loss of 1.6300 and target price of 1.6100.
