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FxWirePro: EUR/AUD slips following RBA minutes , plunge to test a key fibo grows

FxWirePro: EUR/NZD set for bigger drop, but close below key fibo needed

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FxWirePro: EUR/ NZD edges above 1.7100 and now targets key fibo resistance

Friday, June 18, 2021 7:21 PM UTC

•EUR/ NZD extended its yesterday’s bounce as the pair continued to enjoy boost from Fed's hawkish shift .

• EUR/NZD bulls have to contend with strong resistance at 1.7126 ( 23.6%fib), If EUR/NZD longs overcome that level, tests of 1.7154 (31st Dec 20 High) resistance is likely.

•Technical signals are bullish as RSI is at 63, daily momentum studies 5 DMA, 9 EMA are trending up.

•Immediate resistance is located at 1.7126 ( 23.6%fib), any close above will push the pair towards 1.7154 (31st Dec 20 High).

•Immediate support is seen at 1.7044 (38.2% fib) and break below could take the pair towards 1.7017 (5EMA).

Recommendation: Good to buy around 1.7080, with stop loss of 1.7000 and target price of 1.7150

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FxWirePro: EUR/ NZD edges above 1.7100 and now targets key fibo resistance

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