FxWirePro: EUR/NZD Trade Idea
EUR/NZD chart - Trading View
EUR/NZD trades in a narrow range, capped below 1.72 handle.
Price action is extending break above 200-DMA, bias bullish.
The pair is trading above major moving averages and daily cloud.
Momentum studies support gains, break above 1.72 eyes 61.8% Fib at 1.7303.
On the flipside, 5-DMA is immediate support at 1.7124. Break below 200-DMA negates bullish bias.
Support levels - 1.7124 (5-DMA), 1.6968 (200-DMA)
Resistance levels - 1.72 (trendline), 1.7303 (61.8% Fib)
Recommendation: Watch out for break above 1.72 to go long, target 1.73
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.