FxWirePro: USD/JPY slips below 109 handle as Japan looks set to extend and expand the state of emergency
FxWirePro:EUR/NZD gains some upside momentum but still bearish
• EUR/NZD initially dipped on Monday, but recovered most of the ground as market spotlight turned to ECB meeting on Thursday.
• EUR/NZD hits daily low at 1.6706 but recovered to trade at 1.6776. Significant moves in this pair are likely to be limited ahead of Thursday’s European Central Bank meeting.
• Technical lean bearish, RSI is trending down , momentum studies, 9, 10,11 DMAs are trending southwards.
• Immediate resistance is located at 1.6799( 38.2%fib), any close above will push the pair towards 1.6834( Higher BB).
• Support is seen at 1.6667 (23.6%fib) and break below could take the pair towards 1.6623 (Lower BB).
Recommendation: Good to sell around 1.6780, with stop loss of 1.6900 and target price of 1.6720.