FxWirePro's Hourly Currency Strength Index was at Bearish at 1000 GMT
FxWirePro's Hourly EUR Spot Index was at -97.506 (Bearish)
FxWirePro's Hourly NZD Spot Index was at 63.4416 (Neutral)
Technical Analysis: Bias Bearish
- Price action below daily cloud and 200-DMA
- RSI weak below 50 and biased lower
- Stochs are biased lower
- On 1H charts, price action below major EMAs and we see +ve DMI dominance
Support levels - 1.6675 (major trendline), 1.65 (major trendline), 1.6355 (38.2% Fib retrace of 1.4535 to 1.7480 rally)
Resistance levels - 1.6785 (23.6% Fib), 1.6792 (100-DMA), 1.6937 (Jan 17 high)
Recommendation: Good to go short on break below 1.6675, SL: 1.6760, TP: 1.6650/ 1.6570/ 1.65
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