FxWirePro:EUR/NZD neutral in the near term, scope for further downside

• EUR/NZD declined on Thursday as   improved risk sentiment in global financial markets boosted risker currency like kiwi dollar. 

• Improved risk sentiment in global financial investors’ risk appetite improved after Beijing injected fresh cash into its financial system ahead of an $83.5 million bond coupon by embattled property giant Evergrande .

• Selling pressure will remain in the short-term, only a move above 1.6664(21DMA) strong resistance  will shift the bias higher.

• Technical signals show the pair could lose more ground as RSI is at 41 bearish, and 9, 11,21 DMA’s are trending south. 

• Immediate resistance is located at 1.6629 (38.2%fib), any close above will push the pair towards 1.6664(21DMA).

• Immediate support is seen at 1.6550 (23.6%fib) and break below could take the pair towards 1.6520  (Lower BB).
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Recommendation: Good to sell round 1.6600, with stop loss of 1.6670 and target price of 1.7480