25 Oct 2013
EUR/NZD trend prevails; drifting from 1.6530
FXstreet.com (Chicago) - EUR/NZD ’s price action is supported by primary, secondary and short-term trends extending the rally from Tuesday and Thursday.
Wheeler comments from the RBNZ’s are summarized by Peter Fell from FXstreet.com “no need to intervene at the moment; there are limited resources to intervene”. In Europe, manufacturing results disappointing but the bullish momentum for the currency prevails.
EUR/NZD Technical Levels
Technically speaking, the pair spikes minimally but remains at 20 pips from session highs. At 1.6541, the pair oscillates between the supports aligned at 1.6516 (October 2nd highs), 1.6465 (October 23rd highs) ahead of 1.64 (October 10th highs) and the resistances aligned at 1.6563 (September 8th highs), 1.6614 (July 24th highs) followed by 1.6666 (August 16th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Wheeler comments from the RBNZ’s are summarized by Peter Fell from FXstreet.com “no need to intervene at the moment; there are limited resources to intervene”. In Europe, manufacturing results disappointing but the bullish momentum for the currency prevails.
EUR/NZD Technical Levels
Technically speaking, the pair spikes minimally but remains at 20 pips from session highs. At 1.6541, the pair oscillates between the supports aligned at 1.6516 (October 2nd highs), 1.6465 (October 23rd highs) ahead of 1.64 (October 10th highs) and the resistances aligned at 1.6563 (September 8th highs), 1.6614 (July 24th highs) followed by 1.6666 (August 16th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.