Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD dented by profit taking laying foundation for rebound

• EUR/NZD gave up some of earlier ground on Friday as profit taking set in after failure to close above   resistance at 1.6800 (14EMA) .

• EUR/NZD  dips towards 1.6742,  a break and daily close above 1.6800 (14EMA) will accelerate further gains.

• Break above 1.6800 (14EMA) is likely to drive the pair towards 1.6827 61.8% fib resistance zone. 

• Immediate resistance is located at 1.6769 (50%fib), any close above will push the pair towards 1.6800 (14EMA).

• Strong support is seen at 1.6716 (38.2%fib) and break below could take the pair towards 1.6645 (23.6% fib ).

Recommendation: Good to buy around 1.6730, with stop loss of 1.6670 and target price of 1.6800
 

  • Market Data
Close

Welcome to EconoTimes

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