EUR/NZD chart - Trading View EUR/NZD hovers around major resistance at 1.6610 (nearly converged 55-EMA and cloud base). ECB minutes noted members said rising uncertainty is tracking trade tensions, while the Council expe…
EUR/NZD hovers around major resistance at 1.6610 (nearly converged 55-EMA and cloud base).
ECB minutes noted members said rising uncertainty is tracking trade tensions, while the Council expects solid economic growth to make a comeback later in the year.
According to the minutes, some members favoured an extension of the status quo in rates through the Q1 2020.
Stochastics oscillator is at overbought levels and the pair is showing signs of exhausion.
RSI is trending at stiff resistance zone and MACD is flatlined. Major trend in the pair is bearish.
55-EMA has been capping recovery in the pair since Jan 2019. Any meaningful upside only on break above.
5-DMA is immediate support at 1.6543. Break below with support from other indicators will see dip till 1.63 levels.
