Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD drifts lower,could be on verge of a bigger drop

• EUR/NZD declined on Tuesday   as upbeat  risk sentiment amid Middle-East conflict boosted New Zealand dollar.

• The euro   erased early’s gains against the kiwi dollar , the pair was last up  at 0.07% at  1.7550

• Technical signals are bearish as RSI is at 31, daily momentum studies  5, 9 and 10 DMAs are trending down.

•  Immediate resistance is located at 1.7616 (38.2%fib ), any close above will push the pair towards 1.7650(11DMA).

• Strong support is seen at 1.7535 (23.6%fib) and break below could take the pair towards 1.7477(Jul 6th low).

Recommendation: Good to sell   around 1.7560, with stop loss of 1.7650 and target price of 1.7450


 

  • Market Data
Close

Welcome to EconoTimes

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