Fxwirepro:eur/nzd hits one-week high, bias is bullish
Source: FxWire Pro - Technicals / 14 Jun 2020 14:19:22 America/New_York
• EUR/NZD rose higher on Thursday as profit taking on shorts and grim Fed economic outlook lifted the pair.
• EUR/NZD registered daily rise above the 1.7569 (38.2 % fib ), reinforcing the underlying bullish trend
• Technical lean bullish, RSI is turning sharply higher. While, 21 day Bollinger bands indicating an extremely oversold market.
• Immediate resistance is located at 1.7722(21 DMA), any close above will push the pair towards 1.7859 (50% fib).
• Immediate support is seen at 1.7569 (38.2 % fib ) and break below could take the pair towards 1.7469 (9 DMA).
Recommendation: Good to buy around 1.7580, with stop loss of 1.7400 and target price of 1.7660© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.