FXstreet.com (San Francisco) - The EUR/NZD bounce from its August low extended above the 1.5600 figure on Tuesday, now climbing to as high as 1.5637 in North America, recording a 1.3% gain on the day.
The lift comes on the back of optimism that the ECB and the Fed will implement another round of easing (bond-buying) to contain the debt crisis.
At current levels, the cross is poised to end the session with its largest daily gain in more than three months. To the upside, resistance is noted at 1.5710 (38.2%, 1.6977/1.4934), then 1.5723 (21-weekly EMA).
Daily RSI is aiming higher and approaching overbought levels, last valued at 68, while the weekly RSI is valued at 45, with upside room to run, suggesting EUR/NZD may be set for more bullish action in the days ahead. The pair last trades at 1.5624.
The lift comes on the back of optimism that the ECB and the Fed will implement another round of easing (bond-buying) to contain the debt crisis.
At current levels, the cross is poised to end the session with its largest daily gain in more than three months. To the upside, resistance is noted at 1.5710 (38.2%, 1.6977/1.4934), then 1.5723 (21-weekly EMA).
Daily RSI is aiming higher and approaching overbought levels, last valued at 68, while the weekly RSI is valued at 45, with upside room to run, suggesting EUR/NZD may be set for more bullish action in the days ahead. The pair last trades at 1.5624.
