• EUR/NZD gave up early gains on Friday as lockdown worries and slow pace of vaccination campaigns in Eurozone weighed on the pair.
• EUR/NZD hit daily high at 1.6765, before retreating slightly trade at 1.6600 by 17:35 GMT. Support at 1.7404 (23.6% fib) are now threatened.
• Technical signals favours bearish sentiment, RSI is at 46 and pair trades below 11,14 & 21-DMAs.
• Resistance is located at 1.6667( 38.2%fib) and at 1.6717 (Higher BB).
• Support is found at 1.6575 (21DMA) and at 1.6525 (23.6% fib).
Recommendation: Good to sell around 1.6610, with stop loss of 1.6720 and target price of 1.6540
