The EURNZD pair recently formed a correctional bullish rally, approaching the main resistance level at 1.8000. Despite the positive signals from major indicators, the price’s frequent stability below this resistance suggests a potential buildup of negative momentum. This could lead to targets at 1.7860 and 1.7800.
Conversely, sustained positive pressure and a breakout above the current resistance could initiate a strong bullish rally, with potential targets at 1.8075 and 1.8200.
Today’s expected trading range is between 1.7860 support and 1.8000 resistance.
Trend Forecast: Bearish
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