Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD rebounds as dip buying emerge

• EUR/NZD recovered some ground as  euro gained amid short-covering as investor attention shifted to the Eurozone's October PMI report next week.

• Pair traded in 1.7848/1.7913 on Friday range and was last trading last at 1.7897.  

• Technical signals are bullish as RSI is at 51, daily momentum studies  5,9 and 11 DMAs are trending up

•   Immediate resistance is located at 1.7920 ( 38.2%fib), any close above will push the pair towards 1.8020 (23.6%fib)

• Strong  support is seen at 1.7845 (50% fib ) and break below could take the pair towards 1.7804(21SMA).

Recommendation: Good to buy   around 1.7880, with stop loss of 1.7800 and target price of 1.7960

  • Market Data
Close

Welcome to EconoTimes

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