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FxWirePro: EUR/NZD falls below 1.6900, bears keep the advantage
•EUR/NZD declined on Thursday as dovish guidance from the European Central Bank weighed on euro.
•The European Central Bank pledged to keep interest rates at record lows for longer to boost sluggish inflation and warned that the rapidly spreading Delta variant of the coronavirus poses a risk to the euro zone's recovery.
•EUR/NZD dived below the 38.2% fib and trades down to a 1.6875 low.
•Technical lean bearish, RSI is trending down lower at 47, momentum studies, 9, 11 DMAs falling southwards.
•Immediate resistance is located at 1.6895 ( 38.2%fib), any close above will push the pair towards 1.6920 (21DMA)
•Support is seen at 1.6819(23.6%fib ) and break below could take the pair towards 1.6781 (Lower BB).
Recommendation: Good to sell around 1.6880, with stop loss of 1.6960 and target price of 1.6780