FxWirePro: EUR/NZD gains some upside momentum but still bearish
• EUR/NZD gained on Thursday but ran out of steam just slightly below 38.2% resistance at 1.6823.
• At GMT 17:06, the pair was trading up 0.58 percent at 1.6771after reaching daily high at 1.6810.
• Underlying trend remains bearish as longs are at-risk due to resurgent coronavirus crisis in Asia and Eurozone .
• Immediate resistance is located at 1.6823 (38.2%fib), any close above will push the pair towards 1.6847(100DMA).
• Strong support is seen at 1.6672(23.6%fib) and break below could take the pair towards 1.6606 (Lower BB).
Recommendation: Good to sell around 1.6800, with stop loss of 1.6930 and target price of 1.6720