• EUR/NZD declined on Friday as traders remained short as investors grappled with a surge in coronavirus cases in Eurozone.
• Selling pressure will remain in the short-term, close above 1.6967 (23.6%fib) is needed to undermine downside bias.
• Recent drop has put EUR/NZD back below 38.2%fib and has put the 1.6813 (50%fib) at back in play
• Immediate resistance is located at 1.6929(Higher BB), any close above will push the pair towards 1.6967 (23.6%fib).
• Immediate support is seen at 1.6813 (50%fib) and break below could take the pair towards 1.6777 (Ichimoku cloud base).
Recommendation: Good to sell round 1.6870, with stop loss of 1.6970 and target price of 1.6800
