• EUR/NZD declined on Friday as higher oil and equities prices boosted kiwi dollar against euro.
• Oil prices jumped by more than 3% on Friday as health authorities in China eased some of the country's heavy COVID-19 curbs, raising hopes for improved economic activity .
• The is pair heading towards the lower 1.6800 level, as near term direction of the pair is likely to be driven by current price action.
• Technical are bearish, daily RSI is negative at 44, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.7018(50%fib ), any close above will push the pair towards 1.7093 (5DMA).
• Strong support is seen at 1.6868 (38.2%fib ), and break below could take the pair towards 1.6680(23.6%fib).
Recommendation: Good to sell on around 1.6900, with stop loss of 1.7000 and target price of 1.6850
