Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD range to extend until there is game changing news

• EUR/NZD strengthened on Tuesday as the kiwi dollar was pressured by lower commodity prices and soured risk sentiment.

• Copper prices fell to two-week lows on Tuesday, driven by concerns over weakening demand from top consumer, China.

• Oil prices dipped on Tuesday, pressured by demand concerns, as traders looked ahead to the upcoming Federal Reserve meeting.

• From a technical viewpoint, RSI  is bullish at 62, daily momentum studies, 5, 10 and 11 daily  MAs are pointing up .

• Immediate resistance is located at 1.8251(23.6%fib), any close above will push the pair towards 1.8270 (Higher BB).

• Immediate support is seen at 1.8169 (38.2%fib) and break below could take the pair towards 1.8109(50%fib).

Recommendation: Good to buy   around 1.8200, with stop loss of 1.8120 and target price of 1.8280
 

  • Market Data
Close

Welcome to EconoTimes

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