EUR/NZD 78.6 Zone Shows Fresh Sellers

The EUR/NZD is bearish and it’s having a retracement. We could see a bit of selling in the zone provided that the market gains volatility.

1.7005-30 is the POC zone. We can also see a descending trend line which adds to the confluence. D H3 camarilla pivot is resistance. The price should drop towards 1.6926 and 1.6821 which is also the ATR projection low. 1. 6802 is W L3 level, so pay attention to it once the price starts to move down. Only above 1.7077, bulls will gain momentum and the trend will change.

The Analysis has been done with the Black Widow system.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

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