EUR/NZD Technical Analysis: 1.6460 regains market attention on immediate support break

• The EUR/NZD pair trades around 1.6500 on early Monday.
• The pair began the day’s trading by slipping under a weeklong ascending support-line, which in-turn highlights the importance of 1.6460 horizontal-supoprt comprising lows marked on February 14 and 20.
• Should the prices refrain to respect 1.6460, the current month low around 1.6410 may sellers’ attention as break of which may drag the quote to 61.8% Fibonacci expansion of its January-February moves, at 1.6270 now.
• In case the pair takes a U-turn from present levels, it needs to surpass the support-turned-resistance at 1.6560 in order to visit 23.6% Fibonacci retracement of recent downturn, around 1.6600.
• During the pair’s successful trading past-1.6600, the 1.6670 and the 38.2% Fibonacci retracement at 1.6715 may act as intermediate halts ahead of pushing buyers towards six-week long resistance-line, at 1.6765.
• It should also be noted that the pair’s rise above 1.6765 enables it to aim for 1.6850 and 1.6940 prior to confronting the 1.7000 round-figure.

EUR/NZD 4-Hour chart