EUR/NZD - 4 Hourly
We are looking for a clear break above the resistance at 1.7310, to confirm upside acceleration towards 1.7474 and 1.7832 as the next upside targets.
A break above the resistance at 1.7310 will also trigger the two year long S/H/S bottom, which has a measured target at 2.0010.
In the short-term, we are looking for support in the 1.7154 - 1.7184 area for a break above minor resistance at 1.7280 that confirms renewed upside pressure and likely a break above important resistance at 1.7310.
R3: 1.7310
R2: 1.7280
R1: 1.7230
Pivot: 1.7200
S1: 1.7184
S2: 1.7154
S3: 1.7121
Trading recommendation:
We remain long EUR from 1.6964 with our stop placed at 1.7090. If you are not long EUR yet, then buy near 1.7154 and use the same stop at 1.7090.
