EUR/NZD chart - Trading View
- EUR/NZD extends weakness for the 2nd straight session, trades 0.35% lower at 1.6739 at 0945 GMT.
- The pair finds strong support at daily cloud, break below required for further downside.
- Technical indicators are turning bearish. RSI and Stochs are rolling over from overbought levels.
- Upside was rejected shy of 200-DMA and price action has slipped below 5-DMA.
- Break below daily cloud will see dip till 1.6678 (55-EMA) and then 1.6550 (cloud base).
- On the flipside, retrace above 5-DMA could see upside till 200-DMA. Decisive break above 200-DMA required for upside continuation.
Support levels - 1.6731 (cloud top), 1.6678 (55-EMA), 1.6612 (50-DMA), 1.6550 (cloud base)
Resistance levels - 1.6836 (5-DMA), 1.69, 1.6987 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
