Bad days for EUR/NZD
Read the article on FBS website
Trade idea
SELL 1.6740; TP 1.6680; SL 1.6760
Last week EUR/NZD tried to test levels above 1.70 but failed to hold there and ultimately closed at 1.6820, below the 100-week MA. The new week started with the euro testing levels below July low and the 50% retracement of the March-June advance at 1.6795. The next targets are 1.6677 (61.8% Fibo) and 1.65. The short-term outlook will remain negative as long as EUR/NZD is trading below 1.6900 (weekly pivot point).
