EURNZD: Local Bearish Reversal?!
I noticed a strong bearish response to an important intraday horizontal resistance on the EURNZD chart.
After testing the highlighted resistances blue area, the price began to consolidate and created a horizontal range on the 4-hour time frame.
The support level was broken, indicating strong selling pressure, and the pair is now retesting it.
We anticipate further bearish movement, possibly down to 1.7837.
After testing the highlighted resistances blue area, the price began to consolidate and created a horizontal range on the 4-hour time frame.
The support level was broken, indicating strong selling pressure, and the pair is now retesting it.
We anticipate further bearish movement, possibly down to 1.7837.
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