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FxWirePro: EUR/NZD down trend on the brink of resuming

• EUR/NZD declined on Tuesday as investors sought riskier assets despite surging cases of the Omicron coronavirus variant around the world.

• EUR/NZD dived below the 38.2% fib and hit daily low  at 1.6648 .

• Technical lean bearish, RSI is turning   lower, momentum studies, 9, 11 DMAs falling southwards.

• Immediate resistance is located at 1.6689( 5 DMA), any close above will push the pair towards 1.6703(38.2% fib)

• Support is seen at 1.6634(23.6%fib ) and break below could take the pair towards 1.6550 (16th Dec low).

Recommendation: Good to sell around 1.6680, with stop loss of 1.6750 and target price of 1.6600
 

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