The EURNZD pair has recently touched the 1.8078 level, repeatedly testing a significant resistance level on the chart, before quickly retreating to 1.7960.
The ongoing stability below this resistance suggests a potential for a renewed bearish move. If the price continues to struggle at this resistance, it may aim to test the initial support at 1.7805. A break below this level could extend losses further to the 1.7725 mark. Conversely, if the price successfully breaches the resistance and holds above it, this would signal a shift to a bullish trend, opening the way to target new resistance levels at 1.8090 and 1.8215.
Today’s expected trading range is between support at 1.7805 and resistance at 1.7990.
Trend Forecast: Bearish
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