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Euro / New Zealand Dollar
Short
Updated

EURNZD: Potential Bounce from Key Resistance Zone

EURNZD is approaching a significant resistance zone, marked by prior price rejections and strong selling pressure in the past. The current market structure indicates the potential for a reversal at this level if sellers regain control.

This resistance zone aligns with a critical supply area where price has shown hesitation before. If the price confirms rejection with bearish patterns such as wicks or bearish engulfing candles, I anticipate a move downward toward the 1.83972 level.

Let me know your thoughts on this analysis or if you have a different perspective!
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DanieIM
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DanieIM

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