The interim bulls have bounced back after channel support, upswings to propel further as current price jumps above 7DMA on dailies.
The current prices are spiked above 7DMAs and foreseen the extension of upswings upto 21DMA levels (i.e. 1.5210) or upper channel line.
The convergence of leading oscillator ( ) to upward trend has been observed when prices were rallying above 7DMAs indicates the convincing momentum, in addition to that volumes, have also been spiking on price upswings, this would be also interpreted as the upswings are convincing in short run.
In addition to that %K line crossover on slow above 46 levels on daily plotting which is again a sign. Thus, we look ahead at price to test the next resistance at 1.52 areas (upper channel line).
We observe Euro's tepid movements against Kiwi dollar, it ( EURNZD ) has been creeping sideways to become an underperformer from the last couple of weeks, but for now, bouncing back after testing support at 1.50 levels.
On a broader perspective, It had been breaking crucial supports at 1.5863 and 1.5447 levels in the recent past quite often, it is now acting that as a stiff resistance, we've seen failure swings at this juncture.
Well, overall, amid the short-term uptrend, the major downtrend still appears to be intact as long as prices go above 21EMA.
The aggressive speculators can build trades with the spreads using one touch EURNZD vega binary call options which are constant time and barrier levels.
Usually, such binary options for every change in 1 pip the relative change in option price 0.01% or even exponential at high implied times (the current ATM IV of this pair is a tad below 9%).