EUR/NZD chart - Trading View
- EUR/NZD hovers around major resistance at 1.6610 (nearly converged 55-EMA and cloud base).
- ECB minutes noted members said rising uncertainty is tracking trade tensions, while the Council expects solid economic growth to make a comeback later in the year.
- According to the minutes, some members favoured an extension of the status quo in rates through the Q1 2020.
- Stochastics oscillator is at overbought levels and the pair is showing signs of exhausion.
- RSI is trending at stiff resistance zone and MACD is flatlined. Major trend in the pair is bearish.
- 55-EMA has been capping recovery in the pair since Jan 2019. Any meaningful upside only on break above.
- 5-DMA is immediate support at 1.6543. Break below with support from other indicators will see dip till 1.63 levels.
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