The EURNZD currency pair presents a detailed technical outlook. Having transitioned from a bearish to a bullish trend, this shift is distinctly marked by the ascending MACD bars. A pivotal highlight is the pair’s recent change in trajectory, emphasizing the significance of monitoring the Fibonacci retracement levels. Moreover, the MACD’s confirmation of the bullish trend suggests a strengthened momentum. Traders should, therefore, exercise care, watching price behaviors and being alert for reactions near the Fibonacci landmarks within this framework.
• There is a resistance level at 110.374; followed by resistance at 110.863 and 111.180.
• There is a support level at 106.682 Below, there are 107.172 and 109.208.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
October 4, 2023