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FxWirePro: EUR/NZD attracts selling interest, vulnerable to more downside

• EUR/NZD  declined on Tuesday as increased risk aversion and prospect of greater Fed, ECB divergence weighed on euro.

• EUR/ NZD fell to  1.6712  close to the 38.2% fib. A break under 38.2% fib would unmask 1.6650 level in the short term.

• Technical signals are neutral  as RSI is flat at 52, daily momentum studies  are trending down. 

• Strong resistance is located at 1.6822( 38.2%fib), any close above will push the pair towards 1.6963(23.6%fib)

• Immediate support is   at 1.6709(50% fib)   and break below could take the pair towards 1.6664 (21DMA).
Recommendation: Good to sell around 1.6730  , with stop loss of 1.6850  and target price of 1.6650
 

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