Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD rebounds, critical resistance lies ahead

• EUR/NZD rallied on Friday as the pair rose on the back of the non-farm payroll data. 

• Nonfarm payrolls increased by only 73,000 jobs in July, according to Friday's employment report from the Labor Department's Bureau of Labor Statistics..

• EUR/NZD bulls   confidence is running high, a clear break above 1.9655 (38.2% fib)would put the 1.9800 level in focus.

• From a technical viewpoint, RSI  is strongly bullish 60 with the 5, 10 and 21-day MAs in a bullish alignment.

• Immediate resistance is located at 1.9655(38.2% fib), any close above will push the pair towards 1.9733 (Higher BB).

• Immediate support is seen at 1.9497 (SMA 20) and break below could take the pair towards 1.9384 (50% fib).

Recommendation: Good to buy on dips around 1.9550, with stop loss of 1.9470and target price of 1.9640.

  • Market Data
Close

Welcome to EconoTimes

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