FxWirePro Currency Strength Index for EUR/NZD: Bias Bullish
FxWirePro's Hourly EUR Spot Index was at 100.735 (Bullish)
FxWirePro's Hourly NZD Spot Index was at -76.8182 (Bearish)
Technical Analysis: Bias Bullish
- Price action has bounced off from near 200-DMA
- Stochs and RSI are on verge of rollover from oversold levels
- Price has broken above 5-DMA and has retraced above 23.6% Fib
- MACD shows fading bearish momentum
Support levels - 1.6785 (23.6% Fib), 1.6778 (5-DMA), 1.6667 (200-DMA)
Resistance levels - 1.6822 (2H 110-EMA), 1.69, 1.6920 (converged 100 and 50-DMA), 1.70
Recommendation: Good to go long above 1.6822, SL: 1.6740, TP: 1.69/ 1.6920 / 1.70
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