• EUR/NZD declined on Friday as investors moved towards riskier assets like kiwi dollar on hopes China will easing its zero-COVID policy.
• At GMT 16:11, the pair was trading down 0.62 percent at 1.6448 after reaching daily high at 1.6433.
• Technical signals show the pair could lose more ground as RSI is at 37 bearish, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.6535(5DMA), any close above will push the pair towards 1.6580(38.2% fib).
• Immediate support is seen at 1.6421 (23.6% fib) and break below could take the pair towards 1.6372(Lower BB).
Recommendation: Good to sell round 1.6450, with stop loss of 1.6550 and target price of 1.6380
