• EUR/NZD declined on Tuesday as investors sought riskier assets despite surging cases of the Omicron coronavirus variant around the world.
• EUR/NZD dived below the 38.2% fib and hit daily low at 1.6648 .
• Technical lean bearish, RSI is turning lower, momentum studies, 9, 11 DMAs falling southwards.
• Immediate resistance is located at 1.6689( 5 DMA), any close above will push the pair towards 1.6703(38.2% fib)
• Support is seen at 1.6634(23.6%fib ) and break below could take the pair towards 1.6550 (16th Dec low).
Recommendation: Good to sell around 1.6680, with stop loss of 1.6750 and target price of 1.6600
