Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/NZD extends drop, faces 38.2%fib support

• EUR/NZD declined on Friday as signs of an easing in China's zero COVID policy boosted risker kiwi dollar against euro.  

• The is pair heading towards the lower 38.2%fib, as near term direction of the pair is likely to be driven by current price action.  

• Technical are bearish, daily RSI is negative at 32, daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.6551(50%fib ), any close above will push the pair towards 1.6622 (9DMA).

• Strong support is seen at 1.6402 (38.2%fib ), and break below could take the pair towards 1.6331(Lower BB).

Recommendation: Good to sell on  around 1.6440, with stop loss of 1.6530 and target price of 1.6380

  • Market Data
Close

Welcome to EconoTimes

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