Back on the 19th of May, we noticed a “double bottom” on the EUR/NZD. And now that chart is actually testing the neckline. Once that neckline (at 1.6100) breaks or we close above, we could get a move towards 1.6400. This pair will be tricky however, with the highly anticipated ECB meeting Thursday morning I have a feeling things could be a little “volatile” in the days leading up to the meeting.
Blake Morrow
Chief Currency Strategist, Wizetrade
Hopefully we get some resistance around 1.617-1.62 I’ll be looking to short there then maybe long on the trendline retest