FxWirePro: EUR/NZD hovers at cloud top, breakout eyes 200-DMA at 1.70

EUR/NZD chart - Trading View 

• EUR/NZD is trading in a narrow range on the day amid holiday-thinned trading.
   
• The pair hovers around daily cloud top at 1.6803. Breakout eyes 200-DMA at 1.70.
   
• Technical studies support gains in the pair. Price action is above moving averages.
   
• Volatility is expanding as indicated by widening in the Bollinger Bands.
   
• GMMA indicator has shown a shift in trend with shorter term averages edging above the longer term averages.
   
• 5-DMA is immediate support at 1.6757. Break below could see weakness till 110-EMA at 1.6734.

Support levels - 1.6757 (5-DMA), 1.6734 (110-EMA), 1.6663 (21-EMA)

Resistance levels - 1.6886 (Upper BB), 1.6911 (38.2% Fib), 1.70 (200-DMA)

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