EUR/NZD extends drop, critical support lies ahead

iq option | 2023-05-07 10:39

Abstract：EUR/NZD declined on Friday after data showed that U.S. employment and wages rose by more than economists expected in April.

EUR/NZD declined on Friday after data showed that U.S. employment and wages rose by more than economists expected in April.

Selling pressure will remain in the short-term, only a move above 1.7650(5DMA) strong resistance will shift the bias higher.

Technical signals show the pair could lose more ground as RSI is at 43 bearish, and 9, 11,21 DMA's are trending south.

Immediate resistance is located at 1.7572 (38.2%fib), any close above will push the pair towards 1.7650(5DMA).

Immediate support is seen at 1.7463(50% fib) and break below could take the pair towards 1.7413 (Lower BB).

Recommendation: Good to sell round 1.7500, with stop loss of 1.7650 and target price of 1.7420

Forex Analysis

Related broker

Frequent Complaints

iq option

Company name：SKY LADDER LLC

Score

1.85

Website：https://iqoption.com/en

10-15 years | Regulated in Cyprus | Market Making License (MM) | Self-developed

Score

1.85

Can AI Really Improve Forex Trading? The Benefits, Risks and Hidden Limitations

We are living in the age of artificial intelligence, where everything including financial matters such as forex are rapidly influenced by this phenomenon. AI-powered tools are here to identify numerous trading opportunities and analyze thousands of data, all in seconds, becoming the preferred option for both retail and institutional traders. Regardless of its immense benefits, traders often question - Whether the AI can truly transform their forex trading experience or is it just like another technology offering scope for unrealistic expectations? While the AI can ensure faster trading and more informed decisions, it is never a sure shot way to profits. As a trader, you need to understand both the strengths and limitations of AI when it comes to generating real wealth.

Original 2026-07-06 21:18

Copy Trading Gone Wrong? The Mistakes That Could Wipe Out Your Entire Trading Account

We all love trading geniuses and their strategies that earn them profits season after season. And we also love following them to make our investment journey seamless. Copy trading is one such tactic that beginners employ to enter the forex market. What do most of them usually do? They pick an experienced investor from the list and let the platform replicate every trade automatically. The fact that experienced traders continually earn profits, the feeling of copying their trades remains intense. However, the uncertain forex landscape can bite you hard by simply copying trades and not focusing on technical analysis and the charts during the day. Beginners can have a set of preconceived notions that can potentially open the gate for losses. In this article, we have highlighted such mistakes traders should avoid.

Original 2026-07-03 21:02

Indian Stocks Rally, but the Rupee Breaks a Six-Day Winning Streak—What's Behind the Sudden Reversal

Indian stock indices today, i.e., June 22, 2026, recorded growth, with the BSE Sensex rising 297.11 points to 77,094.07, recording a 0.38% jump. On the other hand, the NSE Nifty hit approximately 24100, largely aided by broad-based purchases across sectors, except for consumer durables and fast-moving consumer goods (FMCG). The Nifty grew by 89.80 points (0.37%+) to 24,102.90.

Original 2026-06-22 21:38

ALFX Review 2026: Fast Withdrawals, Easy Deposits—Reality or Hype?

ALFX, a new-age brokerage firm with around two years of service track record, seemed to have recorded around 30 reviews by users worldwide, including those in India. While some question the deposit & withdrawal process based on their poor experience, some appreciate its smooth payment services and impressive spreads. This ALFX review article takes both positive and negative user feedback for the broker. This will allow you to make an informed financial decision.

Original 2026-06-16 22:35