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• EUR/NZD gained on Monday as risk sentiment rebounded from the previous session's Omicron rout.
• The pair is holding near today's high, A close above 23.6% fib, will likely trigger a new bullish phase with potential for 1.6700
• Technical favours bullish sentiment, RSI is rising & pair trades above 5 and 9-DMAs.
• Immediate resistance is located at 1.6604( 23.6%fib), any close above will push the pair towards 1.6693(Oct 13th high)
• Immediate support is seen at 1.6503(38.2%fib ) and break below could take the pair towards 1.6414 (50%fib).
Recommendation: Good to buy around 1.6550, with stop loss of 1.6410 and target price of 1.6700
