EUR/NZD: 1-hour
Looking to jump in a euro short position right away? Then you might like this break-and retest-setup already starting to play out on EUR/NZD’s 1-hour forex chart. Price seems to have found resistance at the 38.2% Fibonacci retracement level and former support area, suggesting that the downtrend is ready to resume. Stochastic has already crossed out of the overbought area and is making its way down, which means that sellers are in control at the moment. With that, this pair might head for its previous lows near the 1.5500 support level or try to make new ones!
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