There are several economic reports being released all around Europe such as Germany Ifo Business Climate and Spain Unemployment Rate. There are no major economic reports in New Zealand.
The support rests at 1.74590 with resistance at 1.75170 which both lines are below the weekly pivot point at 1.75360. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is rising towards the 50 level, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
The support area seems to be too strong to be broken therefore long positions are recommended towards1.757.
