Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/NZD pulls back to support, rebound likely

• EUR/NZD dipped lower on Monday  as heightened geopolitical tensions in the Middle East weighed on investor sentiment .

• The ongoing conflict between Israel and Iran, marked by continued military strikes and rising civilian casualties, has sparked fears of a broader regional escalation, prompting a cautious tone across global markets.

• Investors are closely watching the U.S. Federal Reserve's policy decision on Wednesday, with markets widely expecting rates to be held steady.

• The focus will be on the Fed's guidance and tone, as traders look for clues on the timing of potential rate cuts later this year.

• Immediate resistance is located at 1.9183(Higher BB), any close above will push the pair towards 1.9263 (50% fib).

• Immediate support is seen at 1.9038 (61.8% fib) and break below could take the pair towards 1.9000(Psychological level)

Recommendation: Good to buy around 1.9020, with stop loss of 1.8900 and target price of 1.9120

 

  • Market Data
Close

Welcome to EconoTimes

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