FxWirePro:EUR/NZD idles around 1.7750 as market awaits fresh catalysts
• EUR/NZD was little changed on Friday as market awaited fresh catalyst for further monemtun . • Inflation data from both the eurozone and the U.S. had a minimal effect on central bank rate expectations this week.partly …
• EUR/NZD was little changed on Friday as market awaited fresh catalyst for further monemtun .
• Inflation data from both the eurozone and the U.S. had a minimal effect on central bank rate expectations this week.partly because rate expectations better reflect policymaker thinking.
• EUR/ NZD has seen a 1.7783 -1.7712 range on Friday, signals suggest further range trading.
• Technicals are favouring bullish sentiment as RSI is at 58 and the pair is trading below 5 & 9-DMAs.
• Immediate resistance is located at 1.7784 (38.2% fib), any close above will push the pair towards 1.7838 (Higher BB).
• Immediate support is seen at 1.7712 (50% fib) and break below could take the pair towards 1.7625(61.8% fib).
Recommendation: Good to buy round 1.7730, with stop loss of 1.7620 and target price of 1.7800
