Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/ NZD extends drop, faces 23.6% fib support

• EUR/ NZD declined on Tuesday as  commodity  linked currencies like kiwi dollar rose against euro after underlying U.S. consumer price inflation rose less than expected last month.

• The pair  fell to a three-month low   after the data. The pair hit 1.6356, the lowest since September 7th  2022. 

• The pair attempting to breach support at 23.6% fib. A decisive break push the towards  .
•Immediate resistance is located at 1.6483 ( 5DMA), any close above will push the pair towards 1.6562 (38.2% fib).

•Immediate support is seen at 1.6356 (23.6% fib) and break below could take the pair towards 1.6282(Lower BB).

Recommendation: Good to sell around 1.6420 with stop loss of 1.6530 and target price of 1.6360,
 

  • Market Data
Close

Welcome to EconoTimes

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