EUR/NZD chart on Trading View used for analysis
- EUR/NZD hovers around 200-DMA at 1.7112, break above to see further upside.
- Technical studies support upside in the pair. Momentum with the bulls.
- RSI is abvove 60 and bias is higher. Price action in within cloud and break above to see upside acceleration.
- Immediate resistance lies at 1.7243 (cloud top) ahead of 61.8% Fib at 1.7316.
- 5-DMA is immediate support at 1.7073, break below 21-EMA to see further weakness.
Support levels - 1.7073 (5-DMA), 1.70, 1.6860 (21-EMA)
Resistance levels - 1.7243 (cloud top), 1.7317 (61.8% Fib), 1.7378 (July 3 high)
Recommendation: Good to stay long on break above 200-DMA, SL: 1.7070, TP: 1.7240/ 1.7315
