We see upside risk of a short-term bounce in EURNZD-Update

FX:EURNZD   Euro / New Zealand Dollar
Recent pullback enables the cross to gather momentum to trigger a new round of rallies. The pickup of the daily indicators indeed pleads for another test of the resistance at 1.6770. A break of this level would be needed to initiate a strong recovery to 1.6850, 1.6920 its 20MA and 1.7080 levels.Note that a drop below 1.6640 would pause our bullish view. The supports stand at 1.6640, 1.6550 and 1.6500.
Our earlier forecast


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.