• EUR/NZD dipped on Monday as delays in vaccine rollouts and forced lock-downs in many European capitals weighed on the pair.
•EUR/NZD recovery from 1.6755 was rejected earlier today by the 14-day moving average. EUR/NZD is in danger of crashing under major fibo support.
• Technical signals favours bearish sentiment, RSI is at 49 and pair trades below 5,9 & 11-DMAs.
• Resistance is located at 1.6755 (14DMA) and at 1.6802 (50%fib).
• Support is found at 1.6690(38.2%fib) and at 1.6600 (Psychological level).
Recommendation: Good to sell around 1.6730, with stop loss of 1.6840 and target price of 1.6650
