EURNZD: Important Decision Ahead! Your Plan: 🇪🇺🇳🇿
Updated
EURNZD is trading within a key daily structure resistance cluster.
On that, the price is currently consolidating within a horizontal trading range.
1.715 - 1.716 is its resistance.
1.7045 - 1.7065 is its support.
For now, I see two equally possible scenarios:
- Bearish
In case of a bearish violation of the support of the range,
bearish continuation will be expected.
Next support will be 1.69 - Bullish
In case of a bullish breakout of the resistance of the range,
a trend following movement will be expected.
Next resistance will be 1.73
Wait for the breakout & follow the market.
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Note
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