Technical analysis of EURNZD
EUR/USD: hints from the weekly chart
Information is not investment advice
EUR/USD formed a bearish candlestick with a big upper wick on the weekly chart. It failed to close above the 200-week MA in the 1.1340 area. The weak euro area’s PMI figures hurt the euro. Overall, it looks like it will be hard for the euro to get higher. As a result, our main idea is to sell EUR/USD on its attempt to revisit resistance. The situation will become easier for bulls only if the price pushes above 1.1350.