Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD tight ranges prevail as market waits for fresh catalyst

• EUR/NZD traded in a narrow range on Monday as investors  awaited  fresh catalyst further movement.

• EUR/NZD fell to 1.7890 after hitting daily high at 1.7743.  Price is contained between two fibo retrace levels , 1.9692 and 1.7712

•  Technical signals are bullish as RSI is at 54, momentum studies, 5, 10 & 21 DMAs are trending up. 

•   Immediate resistance is located at 1.7752 ( 38.2%fib), any close above will push the pair towards 1.7859(Higher BB)

• Strong support is seen at 1.7675(38.2 %fib ) and break below could take the pair towards 1.7615(50 %fib).

Recommendation: Good to buy on dips around 1.7700  with stop loss of 1.7620  and target price of 1.7780  .
 

  • Market Data
Close

Welcome to EconoTimes

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