• EUR/NZD declined on Wednesday as the U.S. rate advantage over the euro zone tempered euro gains against kiwi dollar.
• Selling pressure will remain in the short-term, only a move above 1.6700 level will shift the bias higher.
• A close below support at 1.6555(5DMA) would give further momentum to bears, opening the way for a run towards 1.6500 level.
• Immediate resistance is located at 1.6631 (38.2%fib), any close above will push the pair towards 1.6701(Higher BB).
• Immediate support is seen at 1.6555(5DMA) and break below could take the pair towards 1.6493 (5DMA).
Recommendation: Good to sell round 1.6620, with stop loss of 1.6700 and target price of 1.6550
