Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/NZD steadies around 1.7850, retains bid tone

• EUR/NZD strengthened further on Friday  as weak Chinese economic data and Middle  East conflict weighed on risk-sensitive New Zealand dollar.

• A close above 1  38.2% fib resistence will trigger a new bullish phase with potential for 1.7900 level

• Technical signals show the pair could gain more ground in the short-term as RSI is at 63  bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.7861 (38.2%fib), any close above will push the pair towards 1.7954 (23.6%fib).

• Strong support is seen at 1.7796 (50%fib) and break below could take the pair towards 1.7726 (61.8% fib )

Recommendation: Good to buy around 1.7840, with stop loss of 1.7760 and target price of 1.7900

  • Market Data
Close

Welcome to EconoTimes

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