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FxWirePro: EUR/NZD changes short term trend from neutral to bearish

• EUR/NZD eased on Friday as stronger-than-expected US PCE inflation data prevented the pair from gaining   bullish traction.

• The personal consumption expenditures (PCE) price index rose 0.3% in March, compared to a forecast of a 0.3% increase, according to the data

• The euro   erased Thursday’s gains against the kiwi dollar , the pair was last down  at 0.26% at  1.7989 .

• A close below 50%fib, would add to pair’s bearish structure, opening the way for  1.7900 level

• Immediate resistance is located at 1.8060 (38.2%fib), any close above will push the pair towards 1.8140 (Higher BB).

• Immediate support is seen at 1.7970(50%fib) and break below could take the pair towards 1.7914 (April 9th low).

Recommendation: Good to sell  around 1.8010, with stop loss of 1.8100 and target price of 1.7900
 

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