EUR/NZD: Euro could break the drought; critical resistance at 1.69030

EUR/NZD: Euro could break the drought; critical resistance at 1.69030

 

What is going on now with EUR/NZD?
 
EUR/NZD:  The Euro has reached a significant retracement level at 1.68425 support in the four hours chart following a long period of a downtrend. The Euro could react at this level and reverse to the upside if it breaks and maintains above 1.69030. 

Our forecast

EUR/NZD: Euro currently trades at 1.68309, heading towards 1.68425. The medium-term targets are estimated at 1.70275, 1.72010, and 1.73360
The pair could pull back to 1.67395 if it fails to continue at 1.68425. 

Support/short - 167.395 and 1.65765

Resistance/Long - 168.425,1.69030, 1.70275, and 1.72010

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

 

Chart 1: The short-term view of the EUR/NZD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the EUR/NZD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

 

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