EURNZD (1H) - short term bullish bias
The euro has found renewed strength against the kiwi after it broke above the psychological level of 1.7400. A bullish MA crossed was followed by a day-worth of consolidation before a directional bias was settled. The fresh momentum is likely to push the price towards 1.7500 and beyond. In case of a pullback, especially if the RSI indicator ventures into the over-bought area, the averages could be the places where trend followers would jump in to fuel the upside move.
Key support: 1.7400
Key resistance: 1.7510
The euro has found renewed strength against the kiwi after it broke above the psychological level of 1.7400. A bullish MA crossed was followed by a day-worth of consolidation before a directional bias was settled. The fresh momentum is likely to push the price towards 1.7500 and beyond. In case of a pullback, especially if the RSI indicator ventures into the over-bought area, the averages could be the places where trend followers would jump in to fuel the upside move.
Key support: 1.7400
Key resistance: 1.7510