Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD consolidates around 1.7730 , maintains bullish bias

• EUR/NZD strengthened on Friday as robust euro zone economic data and hawkish remarks by ECB  officials triggered boosted the pair .

• A daily close above (23.6% fib)will further improve the technical outlook, and open the possibility of a rally towards 1.7800 level.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 60 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.7754 (23.6% fib), any close above will push the pair towards 1.7849 (Higher BB).

• Strong support is seen at 1.7637 (Daily low) and break below could take the pair towards 1.7559(38.2% fib)

Recommendation: Good to buy around 1.7710, with stop loss of 1.7620 and target price of 1.7780

  • Market Data
Close

Welcome to EconoTimes

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