Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD falls below 1.8100, bears keep the advantage

• EUR/NZD slipped below 1.8100 level on Tuesday  as positive risk sentiment boosted kiwi dollar against euro .

• On the data front, German investor morale darkened more than expected in August, posting its strongest decline in two years .

•The economic sentiment index fell to 19.2 points from 41.8 points in July. Analysts polled   had pointed to a reading of 32.0.

• EUR/NZD  appears set to extend its downside bias  as daily technicals highlighting more downside risk.

• Immediate resistance is located at 1.8206( 38.2% fib), any close above will push the pair towards 1.8275 (Aug 8th high).

• Support is seen at 1.8067(50%fib ) and break below could take the pair towards 1.7935(61.8%fib).

Recommendation: Good to sell on rally around 1.8090, with stop loss of 1.8180 and target price of 1.8000
 

  • Market Data
Close

Welcome to EconoTimes

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