Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro : EUR/NZD downtrend extends ,eyes 23.6% fib support

• EUR/NZD  declined on Friday as increased risk appetite boosted kiwi dollar against euro.

• EUR/NZD   slide halts after failing to break at the 23.6% fib support, daily close and break below will accelerate towards  1.7500 level.

•Technical signals show the pair could lose more ground in the short-term as RSI is at 26 bearsih, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.7682(38.2% fib), any close above will push the pair towards 1.7722(5DMA).

• Strong support is seen at 1.7533(23.6% fib) and break below could take the pair towards 1.7511(Jul 13th low)

Recommendation: Good to sell around 1.7630, with stop loss of 1.7780 and target price of 1.7500

  • Market Data
Close

Welcome to EconoTimes

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