EUR/NZD Long-Term Trend: Bullish
Key Resistance Levels: 1.6909, 1.7030, 1.7050
Key Support Levels: 1.6802, 1.6686, 1.6650
The price on the higher time frame was rejected from the strong daily support around the 1.6686 and reversed to be traded with dominance of the bulls. Recently, the pair succeeded to break the daily resistance (now support) around the 1.6802 USD mark. The market retraced to this zone and now we expect further movement to the upside in the same direction of the main trend.
EUR/NZD Medium-Term Trend: Bullish
On the 1-hour time frame, the price is trading inside a wedge formation where it managed to break it to the upside. A lower correction might be seen to the highlighted zone before a rally to our mentioned target profit.
Buy Limit Order @ 1.6841
TP 1 @ 1.6908
TP 2 @ 1.7030
Stop Loss @ 1.6808
Trade Safely 🙂