Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/NZD attracts selling interest, vulnerable to more downside

• EUR/NZD declined on Wednesday as the pair attracted sellers ahead of ECB meeting.

• EUR/NZD failed to close above 1.6689 (9DMA) and 1.6700 (32.8%fib), giving bears hope. That could see the pair weaken in the near term.

• Technical signals show the pair could lose more ground in the short-term as RSI is  bearish at 39, daily momentum studies  5  and 9 DMAs are trending  down.

• Immediate resistance is located at 1.6649 (5DMA), any close above will push the pair towards 1.6689 (9DMA).

• Strong support is seen 1.6607(23.6%fib) and break below could take the pair towards 1.6577(6th Sep low)

Recommendation: Good to sell around 1.6640, with stop loss of 1.6720 and target price of 1.6580

  • Market Data
Close

Welcome to EconoTimes

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