Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD runs out of steam but maintains bullish outlook

• EUR/NZD hovered around 1.7250 on Wednesday as investors gauged  the prospects rate hike by European Central Bank.
.
• The ECB is scheduled to hold its monetary policy meeting next week. Investors also assessed the euro zone's fourth-quarter growth numbers.

• A rally towards is  1.7400 possible if  GBP/NZD bulls overcome resistance at 23.6%fib.

• From a technical viewpoint, RSI  is strongly bullish at 63, daily momentum studies, 5, 10 and 11 daily  MAs are pointing higher.

• Immediate resistance is located at 1.7281(23.6%fib), any close above will push the pair towards 1.7366 (Higher BB).

• Immediate support is seen at 1.7214 (5DMA) and break below could take the pair towards 1.7142(38.2%fib).

Recommendation: Good to buy on dips around 1.7240 with stop loss of 1.7140 and target price of 1.7310

  • Market Data
Close

Welcome to EconoTimes

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