EUR/NZD has shown a decisive break above 20-DMA, scope for further upside.
Technical studies are bullish, RSI and Stochs are biased higher and MACD is on verge of bullish crossover on signal line.
Call update: We had advised a long on the pair - http://www.econotimes.com/FxWirePro-EUR-NZD-bounces-off-major-trendline-support-good-to-go-long-on-close-above-20-DMA-at-16830-1003465.
Targets 1/2/3 hit, we see scope for further upside.
Recommendation: Book partial profits at highs, trail stop loss to 1.6860. Hold for 1.7060/ 1.71.
FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 102.933 (Bullish), while Hourly NZD Spot Index was at -122.322 (Bearish) at 0420 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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