Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD uptrend looks tired, but continues to hold

• EUR/NZD strengthened on Tuesday  as weaker kiwi dollar lifted the pair, but  the gains were  capped   ahead of  Fed and BoE meetings

• Federal Reserve, Bank of England rate meetings  are key for pair as it hovers near highs. 

• Pair traded in   1.7144/1.7448  range and was last trading at 1.7382 in late the US afternoon.

• Technical signals are bullish as RSI is at 62, daily momentum studies  5,9 and 10 DMAs are trending up.

•  Immediate resistance is located at 1.6458( 23.6%fib), any close above will push the pair towards 1.7477(Higher BB)

• Strong  support is seen at 1.7322 (38.2%fib ) and break below could take the pair towards 1.7245 (50%fib).

Recommendation: Good to buy  around 1.7370, with stop loss of 1.7270 and target price of 1.7450

  • Market Data
Close

Welcome to EconoTimes

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