FxWirePro: EUR/JPY breaks 7-day bearish streak, spikes higher as euro buoyed on upbeat German ZEW Economic Sentiment Index
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FxWirePro:EUR/NZD heads deeper into bear territory, eyes 1.6900 level
• EUR/NZD declined on Tuesday as jump in corona virus cases in Europe put renewed pressure on the pair.
• EUR/NZD sinks near 1.6945 then sits near 1.7033 late in US session.Another dip is likely. Only a move above resistance 1.7354 will shift bias higher.
• Technical signals are bearish as RSI is at 33, daily momentum studies 10,11 and 14 DMAs are trending down.
• On the upside, Immediate resistance is located at 1.7161 ( 9 DMA), any close above will push the pair towards 1.7308 (20DMA).
• On the downside, support is seen at 1.7032(23.6%fib ) and break below could take the pair towards 1.6929(Lower BB ).
Recommendation: Good to sell around 1.7050, with stop loss of 1.7300 and target price of 1.6900.