Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro :EUR/NZD maintains bullish bias with focus on 1.6800 level

• EUR/NZD rose higher on Monday as risk aversion flows favored the euro following disappointing Chinese economic data.

• EUR/NZD bulls have to contend with strong resistance at 1.6772 (50%fib) If EUR/NZD longs overcome that level, tests of 1.6825 (61.8%fib) resistance is likely. 

• Technical signals show the pair could gain more ground in the short-term as RSI is at 51 bullish, daily momentum studies  5, 9   DMAs are turning up. 

•Resistance Levels : 1.6772 (50%fib) , 1.6825 (61.8%fib), 1.6849 (Higher BB)  
     
• Support Levels: 1.6719 (38.2%fib), 1.6647(23.6%fib), 1.6625( Lower BB)

Recommendation: Good to on buy around 1.6750, with stop loss of 1.6650 and target price of 1.6830
 

  • Market Data
Close

Welcome to EconoTimes

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