EURNZD is currently approaching the key resistance level at 1.96500, where price action is showing signs of exhaustion. A triangle pattern has formed near this resistance zone, which often suggests potential bearish continuation if a breakout occurs to the downside.
If the price fails to break above 1.96500 and confirms a reversal, it could trigger a downtrend move. In that scenario, the first support level to watch would be around 1.94500.
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If the price fails to break above 1.96500 and confirms a reversal, it could trigger a downtrend move. In that scenario, the first support level to watch would be around 1.94500.
If You Like this idea or if have on Opinion about this analysis share in comments. Thanks for Supporting.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.