• EUR/NZD declined on Friday as signs of an easing in China's zero COVID policy boosted risker kiwi dollar against euro.
• The is pair heading towards the lower 38.2%fib, as near term direction of the pair is likely to be driven by current price action.
• Technical are bearish, daily RSI is negative at 32, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.6551(50%fib ), any close above will push the pair towards 1.6622 (9DMA).
• Strong support is seen at 1.6402 (38.2%fib ), and break below could take the pair towards 1.6331(Lower BB).
Recommendation: Good to sell on around 1.6440, with stop loss of 1.6530 and target price of 1.6380
