EUR/NZD Long-Term Trend: Bearish
Key Resistance Levels: 1.63247, 1.63483, 1.64000.
Key Support Levels: 1.63000, 1.62761, 1.62000.
The price on the higher time frame failed to break the resistance around the 1.63262 NZD mark where it reversed and moved lower and managed to break the bullish channel to the downside. we expect further movement to the downside in the coming hours toward the next key support level.
EUR/NZD Medium-Term Trend: Bearish
On the lower time frame, the price posted a double top which helped the market to reversed and then found sellers around the 61.80% fibonacci retracement level. A higher correction could be seen before a new move to the downside toward the target profit.
Sell Limit Order @ 1.62979
TP 1 @ 1.61818
TP 2 @ 1.61291
Stop Loss @ 1.63313
Trade Safely 🙂