EUR/NZD Long-Term Trend: Bullish
Key Resistance Levels: 1.7162, 1.7279, 1.7347
Key Support Levels: 1.7037, 1.6986, 1.6894
The price is trending to the upside by posting higher highs and lows. It is bouncing inside a bullish channel formation where it managed to break the strong daily resistance around the 1.7037 USD mark. This daily strong resistance is now the new support which could lead to a move upward in again in the same direction of the main trend.
EUR/NZD Medium-Term Trend: Bullish
On the 1-hour time frame, the price found buyers around the 61.80% Fibonacci retracement level and succeeded to move to the upside. A lower correction has been posted to the highlighted area which it will cause a rally all the way up toward the target profit.
Buy Limit Order @ 1.7060
TP 1 @ 1.7117
TP 2 @ 1.7162
Stop Loss @ 1.7035
Trade Safely 🙂