FxWirePro Currency Strength Index for EUR/NZD: Bias Bullish
FxWirePro's Hourly EUR Spot Index was at 71.926 (Neutral)
FxWirePro's Hourly NZD Spot Index was at -166.762 (Bearish)
Technical Analysis: Bias Bullish
- Price action has broken above 100-DMA, entered daily cloud
- Momentum studies are bullish
- RSI strong at 60, bias higher
- +DMI crossover on -ve DMI
- Bullish MACD line crossover on signal line
Support levels - 1.6925 (100-DMA), 1.6916 (5-DMA), 1.6836 (21-EMA)
Resistance levels - 1.70, 1.7075 (cloud top), 1.7163 (Mar 21 high), 1.7245 (trendline)
Recommendation: Good to go short on dips around 1.6980/70, SL: 1.6920, TP: 1.7075/ 1.7160/ 1.72/ 1.7245
For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
