• EUR/NZD initially gained against dollar on Thursday but gave up ground as markets digested news the ECB is getting ready for a series of rate hikes.
• The European Central Bank ended a long-running stimulus scheme on Thursday and signalled it would deliver its first interest rate hike since 2011 next month.
• The pair failed to break resistance at 1.6690( Higher BB) and dipped towards 1.6622 level . A close below at 1.6581 (38.2%fib) will open up 1.6500.
• Immediate resistance is located at 1.6690( Higher BB), any close above will push the pair towards 1.6740(23.6%fib).
• Strong support is seen at 1.6581 (38.2%fib) and break below could take the pair towards 1.6537 (5DMA).
Recommendation: Good to sell around 1.6630, with stop loss of 1.6800 and target price of 1.6500
