Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/ NZD stuck in range but maintains bearish bias

• EUR/ NZD edged higher  on Friday   as investors monitored the escalating Iran war and digested weak U.S. labor data.

• Middle East tensions remained high as U.S. President Donald Trump demanded Iran’s “unconditional surrender,” while Israel continued strikes on Tehran and launched attacks on Beirut.

• Oil prices surged as shipping and energy exports through the Strait of Hormuz were halted, raising fears of tighter supplies and higher inflation.

• Meanwhile, data showed the U.S. economy unexpectedly lost jobs in February, signalling potential weakness in the labor market and clouding the outlook for interest rates..

• Immediate resistance is located at 1.9724(Daily high), any close above will push the pair towards 1.9822(38.2%fib).

• Immediate support is seen at 1.9567(23.6%fib) and break below could take the pair towards 1.9536(Lower BB).

 Recommendation: Good to sell around 1.9700 with stop loss of 1.9750  and target price of 1.9630

  • Market Data
Close

Welcome to EconoTimes

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