• EUR/NZD rose higher on Tuesday as kiwi dollar weakened sharply after New Zealand was thrown into lockdown over single suspected Delta case.
• A snap lockdown in New Zealand following new COVID-19 cases may see the central bank back off from a widely forecast interest rate hike on Wednesday.
• Technical signals are strongly bullish as RSI is up at 55, daily momentum studies 5, 9 and 10 DMAs are trending up.
•The pair has traded a 284 pip range thus far Tuesday. Unless there is major news up trend looks set to extend.
• Immediate resistance is located at 1.6940 ( 38.2%fib), any close above will push the pair towards 1.7017 (23.6 % fib).
• Strong support is seen at 1.6890 (50%fib ) and break below could take the pair towards 1.6832 (61.8% fib).
Recommendation: Good to buy around 1.6900, with stop loss of 1.6800 and target price of 1.6990






