FxWirePro :EUR/NZD losses momentum, but outlook is bullish
• EUR/NZD dipped on Monday as fears surrounding the spread of Omicron virus variant dragged the pair downwards.
• At GMT 21:54, the pair was trading 0.28% lower at 1.6703 , slightly lower from daily high at 1.6537.
• Technical signals are bullish as RSI is at 64 ,moving averages are trending higher.
• Immediate resistance is located at 1.6778( 23.6%fib), any close above will push the pair towards 1.6845 (Higher BB).
• Support is seen at 1.6656 (38.2%fib) and break below could take the pair towards 1.6558 (50%fib).
Recommendation: Good to buy around 1.6700, with stop loss of 1.6500 and target price of 1.6780.