FXstreet.com (San Francisco) - After gaining ground for a third straight day and touching a new 8-week high overnight, EUR/NZD has been trading sideways around the 1.5640 mark this Thursday in Asia. If the cross manages to break out of its tight range in the sessions ahead, resistance is noted at 1.5710 (38.2%, 1.6977/1.4937) and 1.5820 (13 April low). To the downside, support is noted at 1.5580 (55-hour EMA), 1.5560 (21 EMA, 4h).
EUR/NZD May 18 at 09:53 GMT
1.5898/23 (-0.02%)
H1.5930 L 1.5910
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
