FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(USDCHF and CADJPY) for the day
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(AUDUSD and DXY) for the day
FxWirePro: EUR/NZD longs hold the higher ground despite soured risk
• EUR/NZD strengthened on Friday as kiwi dollar was weighed down by slide in global stock market .
• Pair traded in 1.6732 /1.6914 range and was last trading at 1.6885 .
• Technical signals are bullish as RSI is at 66, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.6907 ( 23,6%fib), any close above will push the pair towards 1.6921(Sep 29th 2021 High)
• Strong support is seen at 1.6843(38.2%fib ) and break below could take the pair towards 1.6781 (50%fib).
Recommendation: Good to buy around 1.6860, with stop loss of 1.6800 and target price of 1.6950.