Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD bulls lose traction, cannot add to overnight gains

• EUR/NZD after initially gaining on Thursday   the pair retreated towards 1.6900 as  investors digested geopolitical developments.

• In an up-and-down session, the pair hit high at 1.7020 in early trading then retreated  towards 1.6900.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 64 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.6950 (38.2%fib), any close above will push the pair towards 1.6989 (21DMA).

• Strong support is seen at 1.6793(50%fib) and break below could take the pair towards 1.6793 (61.8%fib )

Recommendation: Good to buy around 1.6880 with stop loss of 1.6800 and target price of 1.6960

  • Market Data
Close

Welcome to EconoTimes

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