Keep an eye on EUR/NZD

Keep an eye on EUR/NZD

Information is not investment advice

EUR/NZD formed a number of candlesticks with long lower wicks on the D1 - a sign that there’s demand for the euro around 1.7300. The pair is trying to form a bottom and is currently testing the resistance line connecting October highs. Resistance is also provided by the 200- and 100-periods MAs on the H4 in the 1.7430 area. A break above 1.7440 is needed to open the way up to 1.7490 and 1.7515 (Oct. 30 high). Support lies at 1.7395 (50-day MA). The return below this level may weaken the pair to 1.7350 and 1.7325.

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