The EURNZD price pattern has been trading within a range. We sent out an analysis the previous 2 days . At the time the pair had been resisting at price level 1.6809 (https://fxsits.com/eurnzd-price-action-to-continue-moving-bearish/) . Since then price has continued to trade bearish within the range. We see price within Resistance level 1.69809 and major support level 1.68435.
In the H4 and the daily time frame on the provided charts, we can see how price ranges between the specified levels. If we see price break past level 1.69809. Then level 1.70651 will be exposed. Thus and forming reversal price pattern. But if price continues it’s trend and break past level 1.68435 then we could see price reach new lower lows .
We still have a strong belief of a bearish continuation movement of the pair .Our analysts believe the EURNZD price pattern holds a long term bearish movement in a long run. Patience is currently the way forward as we wait for the signal on a pure direction of where price is moving .
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