• 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

     

Share on,