EUR/NZD has been in a downtrend for a very long time, so we are looking for shorts. Price broke out of a key support level, around 1.65430. We can expect price to retrace back to this level, and we can take a sell after conformation of trend continuation. This key level also is also 61.80% fib retracement level, which adds another confluence for a short around this level.
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.