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FxWirePro: EUR/NZD remains bullish as rally continues

Wednesday, September 7, 2022 11:14 PM UTC

• EUR/NZD rose on Wednesday as euro strengthened ahead Thursday's ECB meeting.

• The European Central Bank (ECB) is scheduled to announce its monetary policy on Thursday.

• Pair traded in 1.6386/1.6504 range and was last trading at 1.6479 .

• Technical signals are bullish as RSI is at 62, daily momentum studies 10,11 and 14 DMAs are trending up.

• Immediate resistance is located at 1.6518 ( 23.6%fib), any close above will push the pair towards 1.6546 (Higher BB).

• Strong support is seen at 1.6386(5DMA ) and break below could take the pair towards 1.6334 (38.2%fib).

Recommendation: Good to buy around 1.6470, with stop loss of 1.6380 and target price of 1.6550.

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FxWirePro: EUR/NZD remains bullish as rally continues

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