• Fxwirepro:eur/nzd -eur outperforms NZD ahead of key events

    Источник: FxWire Pro - Technicals / 14 июл 2020 13:38:03   America/New_York

    • EUR/NZD rose on Tuesday as traders remained long on optimism over this week’s European Union summit and a European Central Bank policy meeting.

    • EUR/NZD   rise came despite a widely-watched indicator showing investor sentiment in the euro zone’s biggest economy, Germany, worsened somewhat in July.

    • Any downside correction is likely to be temporary as barrier at 1.7297 (23.6% fib)  is set to restrict lower move.

    • Technical signals show the pair could gain more ground as RSI is at 51 bullish,   5, 9 & 11-day MAs are in bullish alignment.

    • Immediate resistance is located at 1.7487 (Daily high), any close above will push the pair towards 1.7642 (38.2% fib).

    • Immediate support is seen at 1.7297 (23.6% fib) and break below could take the pair towards 1.7280 (21 DMA).

    Recommendation: Good to buy around 1.7400, with stop loss of 1.7300 and target price of 1.7500

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