EUR/NZD targeting the demand zone at 1.7015

EUR/NZD targeting the demand zone at 1.7015

The pair has been trading in a bullish tone since November 9th but currently it’s off from November 17th highs and we can expect that it finds dynamic support in the 200 SMA. Such level coincides with the Fibonacci zone of 38.2% at 1.7107, where a rebound could take place in order to reach the mid-term target at -23.6% in 1.7593. To the downside, if the pair breaks below 1.6897, the next hurdle for sellers should be the 1.6622 level.

RSI indicator remains in the neutral territory.

EURNZDmH1.png

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