FxWirePro:EUR/NZD extends gains, faces 38.2% fib resistance

• EUR/NZD gained on Tuesday as extended COVID-19 lockdown  in New Zealand’s  largest city Auckland continued to weigh  on kiwi dollar.

• Pair traded in  1.6650/1.6668 range and was last trading at 1.6634 in late US trading.  

• Technical signals are neural as RSI has turned flat at 41, momentum studies, 5, 10 & 21 DMAs conflict -neutral setup.

• Immediate resistance is located at 1.6642 (11DMA), any close above will push the pair towards 1.6663 (38.2%fib).

• Strong support is seen at 1.6568 (23.6% fib) and break below could take the pair towards 1.6528 (Sep 10th low )

Recommendation: Good to buy around 1.6620, with stop loss of 1.6550 and target price of 1.6700