FxWirePro: EUR/NZD Near-Term Outlook

EUR/NZD chart - Trading View 

Daily Chart Pattern: Descending Triangle

EUR/NZD Technical Analysis:
- Has paused downside at 200W SMA, break below to see further weakness
- Next major support lies at 1.6345 (Triangle Base)
- RSI is below 50, bias lower, Stochs show bearish momentum
- Bollinger Bands are widening in support of rising volatility
- Price action below cloud and major moving averages

Support levels - 1.6360 (200W SMA), 1.6345 (Triangle base), 1.6329 (Dec 5 low), 1.6139 (Sept 2017 low)
Resistance levels - 1.6463 (5-DMA) 1.6527 (21-EMA), 1.6628 (55-EMA)

Recommendation: Good to stay short below 200W SMA, SL: 1.6470, TP: 1.6330/ 1.62/ 1.6140 

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.