The pair fell sharply during the last two weeks
of a decline from 1.74 without being able to resist the violent declines
suffered by the economic news in New Zealand
But we do not expect the decline to continue
much, especially as we can respond as it falls within the recent declines on
the basket of the euro in general and the impact of some of the disadvantages
resulting from the new Italian budget more than affected by the performance of
the New Zealand
On the MACD we are seeing weak positive signs
for the pair that might tell us that we are on the verge of an imminent rally
for the pair which we have been observing for some time
Props and resistors
We are currently trading near the strongest
support at 1.65 which has always proved its ability to push the pair higher
again, the strongest resistance is currently near the 1.70 levels which we
expect to reach within two weeks of trading to re-target the resistance levels
1.73
Trading Recommendation
Buy from current levels 1.6616
Stop loss
1.6350
Take profit in three stages by closing part of
the contracts at each stage as follows
Make a first profit at 1.6915
Make a second profit at 1.7090
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