EURNZD: 2 Potential Scenarios Explained 🇪🇺🇳🇿

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EURNZD is stuck between a strong horizontal resistance and a rising trend line on a daily.

Depending on the reaction of the price to these structures, I see 2 potential scenarios:
If the price breaks and closes above 1.683 - 1.687 resistance,
I will expect a bullish continuation to 1.708.

If the price breaks and closes below a trend line,
I will expect a bearish move to 1.656 level.

From a current perspective, it feels like the probabilities are on bulls' side.
However, let's be patient.

What do you expect?

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٢٨ يونيو ٢٠٢٢

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