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FxWirePro:EUR/NZD slides towards 1.7570 on French election event risk

• EUR/NZD declined sharply  on Monday   after French President Emmanuel Macron called a snap election.

• The prospect of fresh political uncertainty in the euro zone's second-biggest economy weighed on sentiment.

• At GMT 16:40, the pair was trading down 0.73 percent   at 1.7570, its lowest since June 6th.

• Technical signals show the pair could lose more ground as RSI is falling at 38, and 9, 11,21 DMA’s are trending south.

• Immediate resistance is located at 1.7642(38.2%fib), any close above will push the pair towards 1.7708 (50%fib).

• Immediate support is seen at 1.7554 (23.6%fib) and break below could take the pair towards 1.7481(Lower BB ).

Recommendation: Good to sell round 1.7580, with stop loss of 1.7700 and target price of 1.7500

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