FxWirePro: EUR/NZD Trade Idea

EUR/NZD chart on Trading View used for analysis

FxWirePro Currency Strength Index for EUR/NZD: Bias Bearish
FxWirePro's Hourly EUR Spot Index was at -107.412 (Bearish)
FxWirePro's Hourly NZD Spot Index was at 80.3704 (Slightly Bullish)

Technical Analysis: Bias Bearish
- Bearish divergence on RSI and Stochs
- Price action dips into daily cloud
- Bearish 5-DMA crossover on 21-EMA
- Stochs and RSI sharply lower, RSI below 50 mark

Support levels - 1.7542 (55-EMA), 1.7441 (lower BB), 1.7409 (38.2% Fib)
Resistance levels - 1.7660 (5-DMA), 1.7826 (Sept 11 high), 1.7928 (Oct 8 high)

Recommendation: Good to go short on rallies, SL: 1.7660, TP: 1.75/ 1.7440/ 1.74

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