EUR/NZD looking to post fresh highs

EUR/NZD looking to post fresh highs

2019-11-11 • Updated

The rally seen in the EUR/NZD pair is a proof that a bullish consolidation is in place for the short-term. From the 1.7011 level, the pair has started a retracement that it’s easing the overbought levels shown during the last few days. Now, it’s on the way to test the Fibonacci level of 50% at 1.6828, where it could gather enough momentum in order to go towards the -23.6% Fibo zone at 1.7098. A breakout below the 65% level could expose the 1.6644 level.

RSI indicator remains in the negative territory.

EURNZDH1.png

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