FX.co ★ EURNZD facing bullish pressure, potential for further upside!

Price is above 1st support at 1.64878 in line with 127% Fibonacci retracement and 127.2% Fibonacci extension. It could potentially bullish from 1st support at 1.64878 in line with 127% Fibonacci retracement and 127.2% Fibonacci extension to 1st resistance at 1.69271 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Our bullish bias is further supported by price is seeing a bullish divergence in RSI . Otherwise price may continue to bearish to 2nd support at 1.63224 in line with -27.2% Fibonacci retracement and 200% Fibonacci extension .

Trading Recommendation

Entry: 1.6478

Reason for Entry:

127% Fibonacci retracement and 127.2% Fibonacci extension.

Take Profit: 1.69271

Reason for Take Profit:

61.8% Fibonacci retracement and 61.8% Fibonacci extension

Stop Loss: 1.63224

Reason for Stop Loss:

-27.2% Fibonacci retracement and 200% Fibonacci extension.