FxWirePro: EUR/NZD extends gains for 3rd straight session, eyes 100-DMA at 1.6921

• EUR/NZD holds gains for 3rd straight session, trades 0.23% on the day.
   
• The pair is holding above 5-DMA support at 1.6793, intraday bias higher.
   
• Technical indicators are turning bullish. Stochs and RSI have rollover from oversold levels.
   
• Price action has bounced off from near 200-DMA and has retraced above 23.6% Fib.
   
• Next immediate bull target lies at 100-DMA at 1.6921, break above could see further upside.
   
• On the flipside, we see strong support at 1.6673 (converged 200-DMA and trendline).

Support levels - 1.6785 (23.6% Fib), 1.6778 (5-DMA), 1.6667 (200-DMA)

Resistance levels - 1.6822 (2H 110-EMA), 1.69, 1.6920 (converged 100 and 50-DMA), 1.70

Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-NZD-Trade-Idea-1254971) is progressing well.

Recommendation: Bias higher, hold for upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 100.234 (Bullish), while Hourly NZD Spot Index was at -171.966 (Bearish) at 0420 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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