• EUR/NZD declined as kiwi dollar was buoyed by reduced omicron angst and gains in commodity prices.
• EUR/NZD dived below the 50% fib and hit low at 1.6574 .
• Technical lean bearish, RSI is turning lower, momentum studies, 9, 11 DMAs falling southwards.
• Immediate resistance is located at 1.6629(50% fib), any close above will push the pair towards 1.6696(61.8%fib)
• Support is seen at 1.6562(38.2%fib ) and break below could take the pair towards 1.6524 (Lower BB).
Recommendation: Good to sell around 1.6600, with stop loss of 1.6670 and target price of 1.6520.
