EUR/NZD has a chance to get higher

EUR/NZD has a chance to get higher

Trade idea

BUY 1.6750; TP 1.6850; SL 1.6730

This month EUR/NZD broke the downtrend resistance line which had been in place since the start of January. The pair also got above the 38.2% Fibonacci retracement of the January-March decline. This level at 1.6635 is now acting as support together with the 100-day MA at 1.6658. Resistance lies at the 50% Fibo at 1.6740. The advance above this level will bring EUR/NZD to 1.6850 and potentially to 1.7000.  

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Similar

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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