Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

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

• EUR/NZD traded in tight range on Wednesday as market   positioned for a hawkish hold when the Fed decides later today.

• Powell is unlikely to put the prospect of new interest rate hikes on the table on Wednesday, and is instead likely to promote holding rates higher for longer.

• EUR/NZD has seen a 1.8096 -1.8156 range , A rally towards is  1.8200  possible if  EUR/NZD bulls overcome resistance at 1.8123(23.6%fib).

• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

•  Immediate resistance is located at 1.8123(23.6%fib), any close above will push the pair towards 1.8156 (Higher BB).

• Strong support is seen at 1.7995(38.2% fib) and break below could take the pair towards 1.7885  (50 fib )

 Recommendation: Good to buy around 1.8080 with stop loss of 1.7960 and target price of 1.8160
 

  • Market Data
Close

Welcome to EconoTimes

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