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• EUR/NZD recovered from earlier decline on Monday as rising U.S. bond yields knocked risk appetite.
• EUR/NZD initially dipped but found buyers at 1.6595, rally lifts the pair towards 1.6636.
• Technical signals show the pair could gain more ground in the short-term as RSI is turning up bullish, daily momentum studies 5, 9,11 are trending up.
• Immediate resistance is located at 1.6660 (38.2%fib), any close above will push the pair towards 1.6725(Higher BB).
• Immediate support is seen at 1.6544 (23.6% fib) and break below could take the pair towards 1.6500 (Psychological level).
Recommendation: Good buy around 1.6630, with stop loss of 1.6500 and target price of 1.6680
