FxWirePro:EUR/NZD attracts selling interest, vulnerable to more downside
• EUR/NZD declined on Friday as concerns over a spike in energy prices in Europe attracted seller in the pair. • Flows of Russian gas via the Nord Stream 1 pipeline to Germany remained at zero on Friday after Russia's Ga…
• EUR/NZD declined on Friday as concerns over a spike in energy prices in Europe attracted seller in the pair.
• Flows of Russian gas via the Nord Stream 1 pipeline to Germany remained at zero on Friday after Russia's Gazprom halted supplies for a three-day maintenance outage on Aug. 31.
•Price slides to 1.6282 from 1.6466 Daily high. The pair has seen a 184 pip range, on Friday.
• EUR/NZD drops below the 5-DMA , slide halts at the 1.6282 (50%fib),break below will accelerate towards 1.4850 level.
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• Immediate resistance is located at 1.6409(38.2%fib), any close above will push the pair towards 1.6494 (Higher BB).
• Immediate support is seen at 1.6282 (50%fib) and break below could take the pair towards 1.6193 (14DMA).
Recommendation: Good to sell round 1.6290, with stop loss of 1.6390 and target price of 1.6200
