EUR/NZD: Trade ideas for Sep. 18

   Felipe Erazo

The EURNZD has found strong resistance at the 1.5940 level and now, this pair is trying to find support at the level of 1.5856, where is located the 50.0 Fibo retracement level at the H1 chart.

However, if the EURNZD manages to make a breakout at that level, it would be expected to fall until the support level of 1.5809. on the other hand, if the EURNZD performs a rebound at current levels, it's expected to climb up to the resistance level of 1.5940. The EURNZD is far removed from the 200 EMA. The RSI indicator is entering negative territory.

Trading recommendations: Place buy orders if the EURNZD does a rebound at the current levels, with take profit at 1.5940.

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