Technical analysis EURNZD for 29.09.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.69200. The closest resistance is the level 1.70725

Key levels

• 1.72500, 1.70725, 1.69200, 1.68000, 1.66950

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.70725, with Take Profit of 1.72500 and Stop Loss of 1.69200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.69200, with Take Profit of 1.68000 and Stop Loss of 1.69505