Daily Forex Update: EUR/NZD
AutoChartist | Nov 26, 2013 03:05AM ET
In the next 14 trading days EUR/NZD is expected to rise to the Key Resistance Level 1.6730 (of the type Approach) that was earlier identified by Autochartist on the daily EUR/NZD charts – as you can see from the following trade opportunity alert for this currency pair. The stop-level for this forecast is set by Autochartist at 1.5848. The price earlier reversed up from the strong support zone (encircled on the second chart below) made out of the lower weekly Bollinger Band, the round support level 1.6000 as well as the 61.8% Fibonacci Retracement of the earlier weekly upward impulse from the strong support level 1.5100 (as you can see on the second chart below).
The following weekly EUR/NZD chart shows the aforementioned support zone:
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