• 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
