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FxWirePro: EUR/NZD gains some upside momentum but still bearish

• EUR/NZD gained on Tuesday  but ran out of steam just slightly below 38.2% resistance at 1.6862.

• At GMT 17:06, the pair was trading up 0.62 percent  at 1.6826 after reaching daily high at 1.6846.

• Underlying trend remains bearish as longs are at-risk from third wave of COVID-19 infections that threatens Eurozone.

• Immediate resistance is located at 1.6858 (38.2%fib), any close above will push the pair towards 1.6900(Psychological level).

• Strong support is seen at 1.6775 (14DMA) and break below could take the pair towards 1.6683 (23.6% fib).

Recommendation: Good to sell around 1.6840, with stop loss of 1.6930 and target price of 1.6800

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