FxWirePro Currency Strength Index for EUR/NZD: Bias Bullish
FxWirePro's Hourly EUR Spot Index was at 124.348 (Bullish)
FxWirePro's Hourly NZD Spot Index was at -162.649 (Bearish)
Technical Analysis: Bias Bullish
- The pair grinds higher along 5-DMA support, tests major trendline resistance at 1.7230.
- Price action has shown break above daily cloud.
- +DMI dominance and MACD is biased higher, supporting uptrend.
- Momentum studies are bullish. RSI strong at 70, bias higher.
- Price action rages above major moving averages.
Support levels - 1.72, 1.7169 (1H 55-EMA), 1.7114 (5-DMA)
Resistance levels - 1.7294 (May 15 high), 1.7370 (major trendline)
Recommendation: Good to go long on dips around 1.7210/20, SL: 1.7165, TP: 0.7230/ 1.7290/ 1.7370
For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
