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NZDJPY Bulls Charge Ahead: Buying the Dips Above 90 for a Shot at 92

FxWirePro: EUR/NZD runs out of steam but maintains bullish outlook

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FxWirePro: EUR/AUD neutral in the near-term, scope for downward resumption

Friday, July 23, 2021 10:49 PM UTC

• EUR/AUD recovered some ground from initial decline on Friday as rallies in equities , oil helped buoy euro.

• EUR/AUD recovers towards 1.5980 and holds near the day's high in US session.

• Bulls will need a clear 1.6048( 38.2% fib)to take greater control, failure to break higher will spur fresh downward momentum.

• Technical signals are mixed as RSI is trending up, moving averages are trending up.

• Immediate resistance is located at 1.5982 (50% fib), any close above will push the pair towards 1.6011 ( 5DMA).

• Immediate support is seen at 1.5911 (61.8%fib) and break below could take the pair towards 1.5870 (16th July low).

Recommendation: Good to sell around 1.6000, with stop loss of 1.6100 and target price of 1.5920.

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FxWirePro: EUR/AUD neutral in the near-term, scope for downward resumption

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