Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD resilient to soft US payrolls data, eyes 1.8150 level

• EUR/NZD  steadied on Friday after US jobs report showed a slowing but still tight U.S. labor market..

• Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department said in its closely watched employment report on Friday.

• EUR/NZD  is trading above the 5-DMA and for now the recent uptrend trend is intact.

• From a technical viewpoint, RSI  is strongly bullish at 61, daily momentum studies, 5, 10 and 21 daily  MAs all climb.

• Immediate resistance is located at 1.8070(23.6%fib), any close above will push the pair towards 1.8133 (Higher BB).

• Immediate support is seen at 1.7931 (5DMA) and break below could take the pair towards 1.7900 (38.2%fib).

Recommendation: Good to buy on dips around 1.8050, with stop loss of 1.7900 and target price of 1.8150
 

  • Market Data
Close

Welcome to EconoTimes

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