• EUR/NZD initially dipped on Thursday but recovered some ground as investors were on edge at the end of the year as initial optimism over China's reopening fizzled.
• In an up-and-down session, the pair hit low at 1.6742 in early trading then recovered towards 1.6816.
• Technical signals are bearish as RSI is heading down ,daily momentum studies 21, 30 DMAs are trending down.
• Immediate resistance is located at 1.6680(50 %fib), any close above will push the pair towards 1.6998(28th Dec)
• Strong support is seen at 1.6742 (38.2 %fib ) and break below could take the pair towards 1.6675(30DMA).
Recommendation: Good to sell around 1.6815, with stop loss of 1.6900 and target price of 1.6750
