Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro :EUR/NZD getting back on track for a run towards 1.6900,good to buy on dips

 • EUR/NZD rose higher on Friday as broad based New Zealand dollar selling and upbeat Eurozone economic data drove EUR/NZD higher.

• EUR/NZD   bulls have tightened their grip after registering a close above the 1.6775 (38.2%fib). A test of 1.6872 (23.6%) resistance zone cannot be ruled out.

• Technical signals indicate bullish movementum, as RSI is at 51, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.6830 (5DMA), any close above will push the pair towards 1.6872 (23.6%fib).

• Strong support is seen at 1.6772 (38.2% fib) and break below could take the pair towards 1.6691 (50% fib ).

Recommendation: Good to buy around 1.6780, with stop loss of 1.6680 and target price of 1.6900


 

  • Market Data
Close

Welcome to EconoTimes

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