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FxWirePro: EUR/NZD on track to test 200-W SMA at 1.6325, break below required for further weakness

EUR/NZD chart on Trading View used for analysis

  • EUR/NZD trades marginally lower on the day at 1.6440 at 0640 GMT.
     
  • The price is extending weakness for the 4th straight session, bias bearish.
     
  • Price action was rejected at 55-EMA and is now below major moving averages and cloud.
     
  • Technical indicators on weekly charts are biased lower, Stochs, RSI and MACD support downside.
     
  • The pair on track to test 200-W SMA at 1.6325, break below required for further weakness.
     
  • Violation at 200-W SMA could see dip till 61.8% Fib at 1.5831. 

Support levels - 1.6422 (Dec 12 low), 1.6329 (Dec 5 low)

Resistance levels - 1.6559 (5-DMA), 1.6665 (21-EMA), 1.6683 (100-W SMA)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-NZD-Trade-Idea-1497964) has hit TP1.

Recommendation: Book partial profits at lows. Hold for further weakness.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex. 
 

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March 19 07:00 UTC Released

CHTrade

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3125 Mln CH

Forecast

Previous

3043 Mln CH

March 19 00:30 UTC Released

AUHome Price Index*

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-2.4 %

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-2 %

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-1.5 %

January 31 00:00 UTC 594535594535m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 594535594535m

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2016 bln ARS

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January 22 19:00 UTC 606355606355m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 594535594535m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 606355606355m

ARTrade Balance

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Forecast

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-1541 %

January 31 00:00 UTC 594535594535m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 594535594535m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 594535594535m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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