EURNZD - Dips to find buyers

FX:EURNZD   Euro / New Zealand Dollar

EURNZD - Intraday - We look to Buy at 1.6690 (stop at 1.6655)

Buying pressure from 1.6575 resulted in all the initial daily selloff being recaptured. Bespoke resistance is located at 1.6741. The 261.8% Fibonacci extension is located at 1.6867 from 1.6526 to 1.6656. There is no clear indication that the upward move is coming to an end. Further upside is expected although we prefer to set longs at our bespoke support levels at 1.6690, resulting in improved risk/reward.

Our profit targets will be 1.6860 and 1.6877

Resistance: 1.6741 / 1.6866 / 1.6877
Support: 1.6690 / 1.6656 / 1.6526
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