Potential Upside for EURNZD
Technical overview:
The EURNZD currency pair has recently formed a head and shoulders pattern, and the price is currently at the neckline of this pattern as well as a significant resistance zone (1.8065-1.8160). If the price successfully breaks through this area, it could reach the specified price targets. However, if the price reverses downward from this zone, the first valid support level will be 1.78360.
Fundamental overview:
Considering recent geopolitical tensions that have driven the market toward risk-off sentiment, along with recent statements from the RBNZ, the NZD has weakened over the past month. If tensions continue to escalate in the coming days and weeks, we can expect this currency pair to increase further.
This analysis will certainly be updated after the price reacts to the resistance zone and neckline. Don’t miss the upcoming trading opportunities in this currency pair.
What are your thoughts on EURNZD ? are you bullish or bearish?
The EURNZD currency pair has recently formed a head and shoulders pattern, and the price is currently at the neckline of this pattern as well as a significant resistance zone (1.8065-1.8160). If the price successfully breaks through this area, it could reach the specified price targets. However, if the price reverses downward from this zone, the first valid support level will be 1.78360.
Fundamental overview:
Considering recent geopolitical tensions that have driven the market toward risk-off sentiment, along with recent statements from the RBNZ, the NZD has weakened over the past month. If tensions continue to escalate in the coming days and weeks, we can expect this currency pair to increase further.
This analysis will certainly be updated after the price reacts to the resistance zone and neckline. Don’t miss the upcoming trading opportunities in this currency pair.
What are your thoughts on EURNZD ? are you bullish or bearish?
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