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FxWirePro:EUR/NZD stuck in range but maintains bearish bias

• EUR/NZD gave up early gains on Friday as lockdown worries and slow pace of vaccination campaigns in Eurozone weighed on the pair.

• EUR/NZD hit daily high at 1.6765, before retreating  slightly trade at 1.6600 by 17:35 GMT. Support at 1.7404 (23.6% fib)  are now threatened.

• Technical signals  favours  bearish sentiment, RSI is at 46 and pair trades below 11,14  & 21-DMAs.

• Resistance is located at 1.6667( 38.2%fib) and at 1.6717 (Higher BB).

• Support is found at 1.6575 (21DMA) and at 1.6525 (23.6% fib).

Recommendation: Good to sell   around 1.6610, with stop loss of 1.6720 and target price of 1.6540

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