EURNZD Chart Technical Outlook fails to confirm about 1.8100, bulls lose steam
The Euro remains unable to return above the 1.8100 resistance area and bulls are losing momentum. The cross of the 4h 50 SMA below the 100 SMA is likely to give fresh hopes for bears.
The hawkish tone from European Central Bank’s officials did not help the pair to rise above the last two week’s trading range. ECB President Lagarde is speaking today and she might give a fresh impulse to the pair.
Technical indicators are turning lower. Price action has crossed below the 50 and 100 SMAs and the 4H RSI is about to dip to levels below 50, suggesting a bearish trend.
Support levels are 1.7880 and 1.7755.
Resistances are at 1.8090 and 1.8260.