Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/NZD bulls need more gains to zero in on key fibo resistance

• EUR/NZD strengthened on Tuesday as upbeat risk sentiment  and pick up in the COVID-19 vaccine rollout in Eurozone supported euro.

• EUR/NZD bulls have to contend with strong resistance at 1.6873 (38.2% fib). If EUR/NZD longs overcome that level, tests of 1.6957(23.6%fib) resistance is likely. 

• Technical signals show the pair could gain more ground in the short-term as RSI is at 56 bullish, daily momentum studies  5, 9   DMAs are turning up. 

•Resistance Levels :1.6873 (38.2% fib), 1.6957(23.6%fib), 1.7000 (Psychological level) 
       
• Support Levels: 1.6814 (5DMA), 1.6797(50%fib), 1.6759( 9 DMA)

Recommendation: Good to on dips around 1.6850, with stop loss of 1.6770 and target price of 1.6960
 

  • Market Data
Close

Welcome to EconoTimes

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