• EUR/NZD dipped on Tuesday as concerns about Eurozone economy weighed on the pair.
• By 16:54 GMT, the pair was down 0.02% at $1.7746.Lowest level since Aug 1st 2023
• EUR/NZD is likely to maintain its downward move as long as it trades below 38.2%fib resistance.
• Technical signals show the pair could lose more ground as RSI is bearish at 30, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.7866(38.2%fib), any close above will push the pair towards 1.7937(9DMA).
• Immediate support is seen at 1.7686 (23.6% fib) and break below could take the pair towards 1.7686 (Lower BB).
Recommendation: Good to sell round 1.7750, with stop loss of 1.7860 and target price of 1.7660
