FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURUSD and AUDUSD) for the day)
FxWirePro: EUR/NZD loses momentum but outlook is bullish
• EUR/NZD initially dipped on Wednesday but pulled back some ground after the U.S. Federal Reserve hiked interest rates by an expected 75 basis points.
• EUR/NZD neared 38.2%fib before pulling back near 1.6821 in US session.
• Technical signals are bullish as RSI is 67, daily momentum studies 9, 11 and 21 DMAs are trending up.
• Immediate resistance is located at 1.6917 (23.6%fib), any close above will push the pair towards 1.6948 (Higher BB)
• Strong support is seen at 1.6803 (5DMA ) and break below could take the pair towards 1.6734(38.2%fib).
Recommendation: Good to buy around 1.6830, with stop loss of 1.6750 and target price of 1.6900.