FxWirePro:EUR/NZD faces trend line resistance at 1.5350, good to sell on rallies
Major resistance – 1.5350 (trend line joining 1.60935 and 1.57644) Major support -1.5250 EUR/NZD has shown a slight decline after breaking the trend line resistance of 1.5350 levels. It is currently trading around 1.5339…
Major resistance – 1.5350 (trend line joining 1.60935 and 1.57644)
Major support -1.5250
EUR/NZD has shown a slight decline after breaking the trend line resistance of 1.5350 levels. It is currently trading around 1.53390.
RSI is in over bought zone .So slight selling till 1.5250 (200 – day MA ) likely. On the higher side, any close above 1.5350 will take the pair till 1.5440/1.5530.
The major near term support is around 1.5250 and any break below will drag the pair till 1.5000/1.4925 (21- day EMA).
It is good to sell on rallies around 1.5340-1.5345 with SL around 1.5378 for the TP of 1.5250/1.5000
