• EUR/NZD initially dipped on Thursday but recovered ground as easing concerns about the economic hit from the Omicron COVID-19 variant helped support riskier currencies.
• The pair is currently approaching resistance at 1.6661 (38.2%fib). A clean and sustained break above 38.2%fib will signal a bullish revival.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 60,while moving averages are trading north .
• Immediate resistance is located at 1.6661 (38.2%fib), any close above will push the pair towards 1.6782(23.6%fib).
• Strong support is seen at 1.6569(50%fib) and break below could take the pair towards 1.6500(14DMA )
Recommendation: Good to sell around 1.6640 with stop loss of 1.6500 and target price of 1.6770
