FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(GBPJPY and EURJPY) for the day
FxWirePro: EUR/NZD maintains bullish bias with focus on 1.7100 level
• EUR/NZD strengthened on Friday as risk sensitive kiwi dollar was weighed down by volatility in global financial markets .
• Pair traded in 1.6907 /1.7063 range and was last trading at 1.7039 .
• Technical signals are bullish as RSI is at 74, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.7057 ( 38.2%fib), any close above will push the pair towards 1.7131 (23.6%fib).
• Strong support is seen at 1.7010 (50%fib ) and break below could take the pair towards 1.6959 (61.8%fib).
Recommendation: Good to buy around 1.7000, with stop loss of 1.6900 and target price of 1.7100.