EURNZD price action

Ever since the EURNZD pair found support . We can tell from price action that the pair and has been trading within a range. Since last week’s analysis on the EURNZD nothing has changed.

EURNZD Daily chart 19 February 2021
EURNZD Daily chart 19 February 2021

Looking at price action and the pattern it forms . We see how price struggles to break past the resistance and support level of the range. If you take a look at the previous post (https://fxsits.com/the-eurnzd-consolidates-within-support-and-resistance/) and today’s. You will notice how price has acted around these level .

Support level 1.66371 and resistance level 1.68474 are areas that price finds difficulty breaking . Probabilities shows us that the EURNZD pair will breakout either bearish/ bullish and hold before we can get a next leg move. Be it bullish or bearish.

EURNZD H4 chart 19 February 2021
EURNZD H4 chart 19 February 2021

We at FXSits still hold very good bearish price trend continuation for the said pair and urge for proper patience since in every move there is a pull back or trust formation .

NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets.

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