FxWirePro: NZD/USD extends range trade for the 2nd straight session, U.S. PMIs for July eyed for impetus
FxWirePro: EUR/ NZD edges above 1.7100 and now targets key fibo resistance
•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