Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/NZD getting back on track for a run towards 1.6900, good to buy on dips

• EUR/NZD made strong gains on Monday as New Zealand dollar weakened as investors became cautious and cut down on risk amid worries about increasing coronavirus restrictions in Asia .

• Today's sharp gains have put EUR/NZD above the 10- & 21-DMAs again, EUR/NZD longs have the advantage but need to overcome key impediments. 

• 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 trending up. 

•Resistance Levels : 1.6870 (38.2%fib) , 1.6905(Daily high), 1.6963 (23.6%fib)     
   
• Support Levels: 1.6794 (50%fib), 1.6772 (30DMA), 1.6725 ( 61.8%fib)

Recommendation: Good to on dips around 1.6820, with stop loss of 1.6715 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.