EURNZD - at major Resistance: Will it drop to 1.9000?

8 Apr

EURNZD reached a major resistance level that has previously acted as a strong barrier, triggering some strong bearish momentum. This zone can be a potential point of interest for those looking for short opportunities. Given its historical significance, how price reacts here could set the tone for the next move.

If bearish signals emerge, such as rejection wicks, bearish candlestick patterns, or signs of weakening bullish pressure, I anticipate a move toward the 1.9000 level. However, a clear breakout above this resistance could challenge the bearish outlook and mean further upside. It's a pivotal area where price action will likely provide clearer clues on the next direction.

Just my take on support and resistance zones, not financial advice. Always confirm your setups and trade with a proper risk management.

9 Apr

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