FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(EURUSD and AUDUSD) for the day
FxWirePro: EUR/NZD longs hold the higher ground despite soured risk
• EUR/NZD strengthened on Tuesday as broad New Zealand dollar weakness helped the euro shrug off ECB's dovish remarks.
• European Central Bank (ECB) President Christine Lagarde offered no fresh insight into the central bank's policy outlook
• At GMT 20:20, the pair was trading 0.41% higher at 1.6852, after recovering from daily low at 1.6776.
• Technical signals are bullish as RSI is at 65, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 1.6858 (23.6%fib ), any close above will push the pair towards 1.6933 (Higher BB).
• Strong support is seen at 1.6776 (Daily low) and break below could take the pair towards 1.6687 (Higer BB).
Recommendation: Good to buy on dips around 1.6850 with stop loss of 1.6800 and target price of 1.6920.