FxWirePro: EUR/NZD hits fresh 2018 highs at 1.7378, stay long on decisive break above 1.7370 (major trendline)

• EUR/NZD hits fresh 2018 highs at 1.7378 before paring some gains to currently trade at 1.7313 levels.
   
• The pair has been rejected at strong trendline resistance at 1.7370, we see further upside only on break above.
   
• Price action has broken above 61.8% Fib and is holding above major EMAs on the weekly chart.
   
• Technical indicators support upside in the pair, break above 1.7370 to see test of 78.6% Fib.
   
• On the flipside, 5-DMA is immediate support at 1.72. Break below will see some weakness.

Support levels - 1.73, 1.7240 (trendline), 1.72 (5-DMA)

Resistance levels - 1.7370 (trendline), 1.74, 1.7480 (2017 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-NZD-Trade-Idea-1397377) has hit all targets.

Recommendation: Book full profits. Watch out for break above 1.7370 to gp long.

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at -32.9275 (Neutral), while Hourly NZD Spot Index was at 27.0931 (Neutral) at 0845 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.