FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
• EUR/NZD recovered some ground after the U.S. Federal Reserve raised interest rates by 75 basis points but gains were limited on Eurozone energy woes . • EUR /NZD recovers towards above 1.6282 and holds near the day's h…
• EUR/NZD recovered some ground after the U.S. Federal Reserve raised interest rates by 75 basis points but gains were limited on Eurozone energy woes .
• EUR /NZD recovers towards above 1.6282 and holds near the day's high.
• EUR /NZD sentiment is bearish as Eurozone energy supply fears and Eurozone growth concerns is likely to pull the euro lower.
• Technical signals are bearish as RSI is lower at 37 , moving averages are trending down.
• Immediate resistance is located at 1.6296( 5DMA), any close above will push the pair towards 1.6377 ( 38.2% fib).
• Immediate support is seen at 1.6221 (38.2%fib) and break below could take the pair towards 1.6132(Lower BB).
Recommendation: Good to sell around 1.6300, with stop loss of 1.6380 and target price of 1.6170.
