EUR/NZD Long-Term Trend: Bearish
Key Resistance Levels: 1.6658, 1.6710, 1.6808
Key Support Levels: 1.6533, 1.6452, 1.6388
The price on the higher time frame has been in a downtrend for some time and recently it consolidated for some time and faced resistance at the 1.6833 level. The pair has now broken the lower trendline which indicates a bearish bias.
EUR/NZD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price broke a major support level of 1.6710 with good momentum after facing rejection from the upside. The pair has now broken and retested the 1.6658 level before continuing the momentum.
Sell Limit Order @ 1.6606
TP 1 @ 1.6540
TP 2 @ 1.6407
Stop Loss @ 1.6672
Trade Safely 🙂