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FxWirePro: GBP/AUD moves lower on weak UK data

FxWirePro- Major Pair levels and bias summary

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FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path

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FxWirePro:EUR/NZD uptrend looks tired, but continues to hold

Tuesday, January 11, 2022 11:07 PM UTC

• EUR/NZD held steady on Tuesday post Fed chair Jerome Powell's testimony during his renomination hearing .

• Investors were relieved that Federal Reserve Chair Jerome Powell's testimony to Congress did not include any major surprises.

• EUR/NZD lifts further above 1.6700 level. A test of 1.6803 zones cannot be ruled out.

• Technical signals indicate bullish movementum, as RSI is at 60, daily momentum studies 5, 9 and 11 DMAs are trending up.

• Immediate resistance is located at 1.6803 (38.2%fib), any close above will push the pair towards 1.6944 (23.6%fib).

• Strong support is seen at 1.6741 (5DMA) and break below could take the pair towards 1.6690 (50% fib ).

Recommendation: Good to buy around 1.6750, with stop loss of 1.6680 and target price of 1.6830

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FxWirePro:EUR/NZD uptrend looks tired, but continues to hold

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