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FxWirePro :EUR/NZD uptrend looks tired, but continues to hold

• EUR/NZD rose slightly on Monday as the pair consolidated the previous session's  losses, but gains were limited as markets were cautious ahead this weeks FOMC meeting.

•EUR/NZD   reaches 1.6973 after pushing its recovery,after hiting daily low at in previous session  at 1.6928.

• Technical signals indicate bullish movementum, as RSI is at 58, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.6989 (38.2%fib), any close above will push the pair towards 1.7044 (Higher BB).

• Strong support is seen at 1.6924(50% fib) and break below could take the pair towards 1.6897 (11DMA ).

Recommendation: Good to buy around 1.6960, with stop loss of 1.6890 and target price of 1.7040

 
 

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