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FxWirePro :EUR/NZD attracts buying interest, 23.6% fibonacci eyed

• EUR/NZD rose higher on Monday as global growth and lock down concerns in china weighed on riskier currencies like kiwi dollar. • G-20 meetings later this week and comments from Fed and ECB chiefs are the main focus alo…

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FxWirePro :EUR/NZD attracts buying interest, 23.6% fibonacci eyed
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• EUR/NZD rose higher on Monday as global growth  and lock down concerns in china weighed on riskier currencies  like  kiwi dollar.

• G-20 meetings later this week and comments from Fed and ECB chiefs are the main focus along with  updates from Ukraine.

• EUR/NZD climbs above 1.6000 and holds near the day's high late US session. The pair hit daily high at 1.6067.

• Technical signals are bullish as RSI is at 51, daily momentum studies  5, 9 and 10 DMAs are trending up.

• Immediate resistance is located at 1.6051 ( Daily high), any close above will push the pair towards 1.6105 (23. 6%fib)

• Support is seen at 1.5991(38.2%fib ) and break below could take the pair towards 1.5933 (9DMA).

  Recommendation: Good to buy around 1.6000, with stop loss of 1.5900 and target price of 1.6100

 

 

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