FxWirePro: EUR/NZD Trade Idea

FxWirePro Currency Strength Index for EUR/NZD: Bias bearish

FxWirePro's Hourly EUR Spot Index was at -73.8657: Bearish

FxWirePro's Hourly NZD Spot Index was at 123.453: Bullish

Technical Analysis: Bias Bearish

- RSI below 50 and biased south

- Stochs show bearish momentum

- MACD shows bearish crossover on signal line

- -ve DMI dominance and ADX supports trend lower

- Price action has broken below 100-DMA, eyes 200-DMA at 1.6620

Support levels - 1.6810 (Major trendline), 1.6645 (Jan 24 low), 1.6620 (200-DMA)

Resistance levels - 1.6958 (100-DMA), 1.6969 (5-DMA), 1.70

Recommendation: Good to go short on rallies around 1.6870/1.69, SL: 1.6970, TP: 1.68/ 1.67/ 1.6650/ 1.6620

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