Share:
On Oct 18, uptrend move led EUR/NZD[1] to a multi- year high at 1.7929. On Oct of this year the price rallied again. However, the pair has not been able to push towards the previous peak highlighting less buyers were ready to join the market.
Currently, the price tests the uptrend line originated from the Feb 6 low at 1.4535. A bearish signal could be generated from a close below the uptrend line for two consecutive weeks. This could lead the price towards 1.5905.
Written By: Mahmoud Alkudsi [2]
Please feel free to contact me on Twitter: @Malkudsi
DailyFX[3] provides forex news and technical analysis on the trends that influence the global currency markets.
