Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD capped 9DMA,bears set to regain control

• EUR/NZD recovered some ground  on  Monday after data showed  Euro sentix investor confidence   improved in October.

•Eurozone sentix investor confidence Index improved  to -18.6 in November vs  -22.2  forecast.

• The pair hit daily high at 1.8007 and was last trading up 0.49 % at 1.7961 late in US session.

• Technical outlook is bearish in short-term as RSI is  lower at 48, moving averages are trending down 

• Immediate resistance is located at 1.8000(38.2%fib), any close above will push the pair towards 1.8086(9DMA).

• Strong support is seen at 1.7867(23.6% fib) and break below could take the pair towards 1.7812   (17th Oct low ).

Recommendation: Good to sell around 1.7980  with stop loss of 1.8150 and target price of 1.7900
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.