FxWirePro: EUR/NZD capped below 21-EMA, 'bullish divergence' keeps scope for further upside

EUR/NZD chart - Trading View 

• EUR/NZD is trading at 1.6536, largely muted at 1200 GMT.
   
• The pair finds stiff resistance at 21-EMA at 1.6574, break above will see further upside.
   
• Bullish divergence keeps scope for further upside. Breakout at 21-EMA will see test of 1.6640 (trendline resistance).
   
• The pair has held above 1.65 handle. 5-DMA support lies at 1.6521. Break below will see dip till 1.6415.
   
• On the data front, focus on German ZEW economic sentiment index for March, scheduled to be released on March 19 by 10:00 GMT.
   
• Focus also on the European Union leaders’ summit, due to be held on March 21 along with eurozone flash PMIs (due Friday).

Support levels - 1.6520 (5-DMA), 1.64 (trendline), 1.6329 (Dec 5 low)

Resistance levels - 1.6574 (21-EMA), 1.6666 (55-EMA), 1.6640 (trendline resistance)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.