EUR/NZD has broken major trendline supports at 1.5285 and 1.52 levels, hits fresh 7-week lows.
Momentum studies are heavily bearish , RSI is below 30 levels and Stochs are biased lower.
The pair is trading below the 1.52 handle, scope for further downside.
Major support levels - 1.5127 (July 13 low), 1.5123 (July 12 low), 0.5119 (July 11 low).
Major resistance levels - 1.5262 (session high), 1.5292 (5-DMA), 1.53, 1.5358 (10-DMA).
Good to sell rallies, SL: 1.5265, TP: 1.5120/ 1.51/ 1.5045
Momentum studies are heavily bearish , RSI is below 30 levels and Stochs are biased lower.
The pair is trading below the 1.52 handle, scope for further downside.
Major support levels - 1.5127 (July 13 low), 1.5123 (July 12 low), 0.5119 (July 11 low).
Major resistance levels - 1.5262 (session high), 1.5292 (5-DMA), 1.53, 1.5358 (10-DMA).
Good to sell rallies, SL: 1.5265, TP: 1.5120/ 1.51/ 1.5045
Comment:
All targets hit. Risk averse can book full profits
EUR/NZD edges higher from session lows at 1.5041.
Momentum studies bearish. Violation at 1.5040 will see test of 1.4935 levels.
EUR/NZD edges higher from session lows at 1.5041.
Momentum studies bearish. Violation at 1.5040 will see test of 1.4935 levels.
Bias lower.