- EUR/NZD remains capped below 20-DMA, intraday bias lower.
- Technicals support further downside in the pair, we see scope for test of 1.4848.
- Bearish reversal only above 20-DMA at 1.5148, test of 23.6% Fib at 1.5336 then likely.
- Major support levels - 1.4944 (Nov 10 low), 1.4848 (Nov 9 low)
- Major resistance levels - 1.5082 (5-DMA), 1.51, 1.5149 (20-DMA)
Recommendation: Good to go short on rallies around 1.5070/80, SL: 1.5160, TP: 1.50/ 1.4950/ 1.49/1.4850
FxWirePro's Hourly EUR Spot Index was at 21.2464 (Neutral), while Hourly NZD Spot Index was at 30.4471 (Neutral) at 0900 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex


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