EUR/NZD under selling pressure at 1.6830

EUR/NZD under selling pressure at 1.6830

EUR/NZD has been trading in a bearish tone since January 3rd session, but so far it’s consolidating above the 200 SMA, at which is currently finding sellers. The 65% Fibonacci level could act as a resistance that help to strengthen the downward path for the short-term. If that happens, the pair could be on its way to test the -23.6% Fibo zone at 1.6400.

RSI indicator is moving in the overbought territory.

EURNZDH1.png

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