• EUR/NZD recovered some ground after initially falling on Thursday as Russia’s attack on Ukraine sparked volatility and investors scrambled to assess the conflict’s longer term implications.
• Geopolitical tensions heightened after Russian forces fired missiles at several Ukrainian cities and landed troops on Ukraine's south coast.
• The pair rebounded but paired gains after finding resistance at 1.6774 (38.2% fib).
• Technical are bearish, daily RSI is negative at 35, daily momentum studies 11and 14 DMAs are trending down.
• Immediate resistance is located at 1.6774 (38.2% fib), any close above will push the pair towards 1.6872 (50% fib).
• Strong support is seen at 1.6655 (23.6%fib) and break below could take the pair towards 1.6585 (Lower BB).
Recommendation: Good to sell around 1.6740, with stop loss of 1.6850 and target price of 1.6600
