Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD attracts buying interest, 23.6% fibonacci eyed

• EUR/NZD strengthened on Monday   as euro benefited from  strongly weaker New Zealand dollar.

•EUR/NZD has seen a 1.7618 -1.7783 range on Monday .Today's bounce away from short-term support may be beginning of bull sign

• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.7794(23.6%fib), any close above will push the pair towards 1.7831 (July 12th high).

• Strong support is seen at 1.7692(5DMA) and break below could take the pair towards 1.7673  (38.2% fib )

Recommendation: Good to buy around 1.7770 with stop loss of 1.7700  and target price of 1.7850

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.