• EUR/NZD dipped on Monday as Eurozone gas supply issues weighed on euro.
• Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the Eurozone region.
• EUR/NZD dipped to hit daily at 1.6235 and recovered to trade last at 1.6292. Sustained break below 23.6 % fib would target support at 21 DMA (1.6158)
• Strong resistance is located at 1.6354 (5 DMA), any close above will push the pair towards 1.6441(Higher BB).
• Strong support is seen at 1.6231 (23.6 % fib) and break below could take the pair towards 1.6158 (21DMA).
Recommendation: Good to sell around 1.6280, with stop loss of 1.6360 and target price of 1.6200.
