Technicals

Add as a preferred source on Google

FxWirePro: EUR/ NZD consolidating around 1.7010, bias is bullish

• EUR/ NZD gained on Tuesday as riskier currencies like kiwi dollar weakened on concerns over rising COVID-19 cases in Australia. • Bulls have tightened their grip after registering a close above the 1.6968 (32.8%fib),sc…

1 min read
FxWirePro: EUR/ NZD consolidating around 1.7010, bias is bullish
Image from the original EconoTimes article

Read the original article

• EUR/ NZD gained on Tuesday as riskier currencies like kiwi dollar weakened on concerns over rising COVID-19 cases in Australia.

• Bulls have tightened their grip after registering a close above the 1.6968 (32.8%fib),scope grows for bigger gains above 1.7000. 

• Technical signals are strongly bullish  as RSI is bullish at 56, 5, 9,11 DMAs are trending up. 

• Immediate resistance is located at 1.7048 (23.6%fib), any close above will push the pair towards 1.7082 (Higher BB).

•  Immediate support is seen at 1.6968 (32.8%fib) and break below could take the pair towards 1.6942 (21DMA).

Recommendation: Good buy around 1.6990, with stop loss of 1.6900 and target price of 1.7070
 
 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560