EURNZD (1H) - short term bullish bias
The euro has found renewed strength against the kiwi after it broke above the psychological level of 1.7400. A bullish MA crossed was followed by a day-worth of consolidation before a directional bias was settled. The fresh momentum is likely to push the price towards 1.7500 and beyond. In case of a pullback, especially if the RSI indicator ventures into the over-bought area, the averages could be the places where trend followers would jump in to fuel the upside move.
Key support: 1.7400
Key resistance: 1.7510
The euro has found renewed strength against the kiwi after it broke above the psychological level of 1.7400. A bullish MA crossed was followed by a day-worth of consolidation before a directional bias was settled. The fresh momentum is likely to push the price towards 1.7500 and beyond. In case of a pullback, especially if the RSI indicator ventures into the over-bought area, the averages could be the places where trend followers would jump in to fuel the upside move.
Key support: 1.7400
Key resistance: 1.7510
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.