• EUR/NZD declined on Tuesday as EU vaccine rollout fears and expectations for a steepening decline in euro zone GDP weighed on euro.
• The 23.6% fib is key support ,a daily close below would extended losses towards 1.6650.
• At GMT 18:32, the pair was trading down 0.26 percent at 1.6806.
• Technicals highlight downside risks,daily RSIs is falling, implying bearish momentum..
• Immediate resistance is located at 1.6851 ( 5 EMA), any close above will push the pair towards 1.6919 (38.2%fib)
• Strong support is at 1.6763 (23.6%fib ) and break below could take the pair towards 1.6644 (24thJan 2020 low).
Recommendation: Good to sell around 1.6830, with stop loss of 1.6950 and target price of 1.6740.
