FxWirePro Currency Strength Index for EUR/NZD: Bias Bearish
FxWirePro's Hourly EUR Spot Index was at -153.714 (Bearish)
FxWirePro's Hourly NZD Spot Index was at 68.5052 (Neutral)
Technical Analysis: Bias Bearish
- Price has breached channel base support
- Momentum and trend indicators support weakness
- -ve DMI dominance adds to bearish bias
- Price has broken below cloud and major EMAs
Support levels - 1.6645 (Jan 24 low), 1.66, 1.6520 (Jan 11 low), 1.6355 (38.2% Fib)
Resistance levels - 1.6785 (23.6% Fib), 1.68, 1.6826 (5-DMA)
Recommendation: Good to go short around 1.6725, SL: 1.6810, TP: 1.6645/ 1.66/ 1.6520
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