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FxWirePro:EUR/NZD range bound in short term as investors eye Jackson Hole

• EUR/NZD traded in tight range on Thursday as market waiting for Fed Chair Powell's speech on Friday  

• Traders are gearing for a hawkish event, which could stem from talk about the neutral rate of interest and whether the Fed chair signals that it has indeed increased..

• EUR/ NZD   has seen a 1.6757 -1.6863 range on Thursday, signals suggest further range trading.

• Technical signals show the pair could lose more ground as RSI has turned  bearish, and 9, 11,21 DMA’s are trending south.

• Immediate resistance is located at 1.8256 (5DMA), any close above will push the pair towards 1.8286 (38.2% fib).

• Immediate support is seen at 1.8159 (Daily low) and break below could take the pair towards 1.8125 (50% fib).

Recommendation: Good to sell round 1.8250, with stop loss of 1.8380 and target price of 1.8150

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