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EUR/NZD Bounces Off a Bottom

12/11/2023

Less than a minute

2023.12.11 10:33

Scott Barkley

Note: FOMC this week
Bullish: We are currently @ 1.7610 breaking slope resistance in a range. We have a triple bottom in place and are looking for a continuation to the ATR target @ 1.7710 with the further target the R5 @ 1.7847 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 136 pips per day and it’s 90 day average is 135 pips per day. USDX is threatening Down.

EURNZD – bounced off the bottom