• EUR/NZD dipped on Monday a fresh concern on disruption of gas supplies to Europe weighed on euro.
• Russia announced late on Friday a three-day halt to European gas supplies via the Nord Stream 1 pipeline at the end of this month.
• EUR/NZD price slides to 1.6110 from 1.6269 Daily high. The pair has seen a 1.6269 -1.6110 range, on Monday .
• Technical signals show the pair could lose more ground in the short-term as RSI is at 44 bullish, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.6180(38.2%fib), any close above will push the pair towards 1.6274 (Daily high).
• Strong support is seen at 1.6103 (38.2%fib) and break below could take the pair towards 1.5972 (23.6%fib)
Recommendation: Good to sell around 1.6130, with stop loss of 1.6270 and target price of 1.6050
