Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/NZD under pressure, knocking on door of key support

• EUR/NZD declined on Monday as improvement in investor risk sentiment and higher commodity prices boosted New Zealand dollar.

•Todays dip has turned the daily signals into negative territory, a move towards 1.5350 now looks viable.

• Technical signals show the pair could lose more ground in the short-term as RSI is  bearish, daily momentum studies  5  and 9 DMAs are trending  down.

•Immediate resistance is located at 1.6214 (5DMA), any close above will push the pair towards 1.6277(38.2%fib).

•Strong support is seen 1.6167(23.6%fib) and break below could take the pair towards 1.6081(Lower BB)

Recommendation: Good to sell around 1.6210, with stop loss of 1.6300 and target price of 1.6100

  • Market Data
Close

Welcome to EconoTimes

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