Life Buzz News

FxWirePro: EUR/NZD range to extend until there is game changing news - EconoTimes


FxWirePro: EUR/NZD range to extend until there is game changing news - EconoTimes

* EUR/NZD strengthened on Tuesday as the kiwi dollar was pressured by lower commodity prices and soured risk sentiment.

* Copper prices fell to two-week lows on Tuesday, driven by concerns over weakening demand from top consumer, China.

* Oil prices dipped on Tuesday, pressured by demand concerns, as traders looked ahead to the upcoming Federal Reserve meeting.

* From a technical viewpoint, RSI is bullish at 62, daily momentum studies, 5, 10 and 11 daily MAs are pointing up .

* Immediate resistance is located at 1.8251(23.6%fib), any close above will push the pair towards 1.8270 (Higher BB).

* Immediate support is seen at 1.8169 (38.2%fib) and break below could take the pair towards 1.8109(50%fib).

Recommendation: Good to buy around 1.8200, with stop loss of 1.8120 and target price of 1.8280

Previous articleNext article

POPULAR CATEGORY

corporate

10469

tech

11384

entertainment

12800

research

5883

misc

13743

wellness

10209

athletics

13605