EURNZD Approaching Overbought Zone – Potential Reversal

28 Feb

The pair is currently trading near the upper boundary of its range, signaling an overbought condition. Price has tested the 1.8468 resistance zone, a level that has historically triggered sell-offs. With the pair still within a ranging market structure, a rejection from this level could lead to a move back towards the 1.8236 support area. The 200-day moving average sits below, indicating long-term bullish structure, but short-term price action suggests a potential pullback before further upside. Traders should watch for bearish confirmation before entering shorts, with a target near 1.8236 and potential extension toward 1.8095 if momentum strengthens.

4 Mac

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