• EUR/NZD initially gained on Tuesday but gave up ground as investors weighed new concerns over the Omicron variant .
• EUR/NZD teeters at 1.6620,close above will engage positive chart pattern for the pair.
• Technical signals show the pair could lose gain more ground in the short-term as RSI is at 54 bullish, daily momentum studies 9, 10 and 11 DMAs are trending up.
• Immediate resistance is located at 1.6668( 38.2%fib), any close above will push the pair towards 1.6752(Higher BB)
• Support is seen at 1.6596(5DMA ) and break below could take the pair towards 1.6555(38.2%fib).
Recommendation: Good to buy around 1.6600, with stop loss of 1.6500 and target price of 1.6660.
