EUR/NZD Headed Upwards

EUR/NZD has been trading to the upside for the past few days. As you can see price has been floating at the 1.57000 resistance where price today has currently shown a strong bullish push back to the upside.

The area of 1.57000 is a key resistance area. If price decides to show a break and retest of this resistance then market participants might be looking for a long position up to the 1.61800 area.

The 20 and 50 EMA's are very close together, which means they could also corss over and align bullish. It would be best to wait before taking a position in this pair until we see price show an actual break with a retest, however, its certainly a pair to watch the weekly close of and how price reacts at this resistance.

Chart: EUR/NZD D1