EUR/NZD - Jumped to 15-Month High and Reached Our Target at 1.6600! - 08/30/2017 (GMT)

The single currency is still looking bullish in the long-term timeframe, as well as, in the medium term, versus the New Zealand dollar. The EUR/NZD pair is recording the second consecutive bullish month and added more than 5.7% to its performance since July. The price hit the 50.0% Fibonacci retracement level of the last big downward movement with high at 1.8681 and low at 1.4590, which was our recommended target on the previous analysis with gains more than 200 pips. (see technical analysis here: http://bit.ly/2vuVgGe).

Going to the short-term chart, the price after meeting the 15-month high near 1.6600, started a downward correction and it could hit the 1.6245 support barrier. The MACD oscillator is still trading in the positive path but lost its strength and the RSI indicator is sloping down in the overbought zone.