8 Apr 2015
EUR/NZD seeing a possible short-term upward trend – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team notes EUR/NZD might see a short-term upward spike, but favours the downside in the long run.
Key Quotes
“Since December 2013 one can see the downward trend under the Fibonacchi resistance. In the mid of December 2014 there was a fall of about 800 pips to the level about 1.5056. The downward trend continues since the begin of February.”
“The support level at 1.4260 could stop the fall.”
“The Momentum and the OsMA are moving above the center line pointing out for a possible short term upward trend, but long term further losses might occur.”
“Support Levels around 1.4260”
“Resistance Levels around 1.5685, 1.6230”
Key Quotes
“Since December 2013 one can see the downward trend under the Fibonacchi resistance. In the mid of December 2014 there was a fall of about 800 pips to the level about 1.5056. The downward trend continues since the begin of February.”
“The support level at 1.4260 could stop the fall.”
“The Momentum and the OsMA are moving above the center line pointing out for a possible short term upward trend, but long term further losses might occur.”
“Support Levels around 1.4260”
“Resistance Levels around 1.5685, 1.6230”