Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD steadies above 1.6900, retains bid tone

• EUR/NZD gained on Tuesday as accelerating vaccination in Europe sparked optimism of broader economic rebound Eurozone supported euro.

• EUR/AUD remains relatively bullish, having recent shallow pullbacks short-lived so far.

• EUR/NZD ‘s rally has so far held above the 50% fibo at 1.6896, a close above the 1.6986 ( 38.2%fib) hurdle  would further brighten the prospects for the pair.

• Technical signals are bullish as RSI is at 62, daily momentum studies  5,9 and 11 DMAs are trending up. 

• Immediate resistance is located at 1.6986 ( 38.2%fib), any close above will push the pair towards 1.7095 ( 23.6%fib)

• Support is seen at 1.6896(50%fib ) and break below could take the pair towards 1.6848 (9DMA).

Recommendation: Good buy around 1.6930 with stop loss of 1.6860 and target price of 1.7000

  • Market Data
Close

Welcome to EconoTimes

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