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6 May 2015
EUR/NZD sees upside scope in the short-term – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team notes technicals remain supportive of a EUR/NZD move higher in the short-term, while the long-term bearish view stays intact.
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.”
“Nevertheless, since mid of April there is a strong upward trend. 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 1.4198”
“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.”
“Nevertheless, since mid of April there is a strong upward trend. 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 1.4198”
“Resistance Levels around 1.5685, 1.6230”