EURNZD returned to growth after rebound from support around 1.5536. Last five sessions ended in ‘green’, while yesterday’s range was small and daily candle has a longer shade at the top. Perhaps strong upward movement will be corrected… but its not worth speculating on corrections against such strong growth momentum that prevails on this pair. However, a potential correction can be used to hunt for buy occasion.
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The nearest support is in area around 1.5884, while more important appears to be area in vicinity of 1.5712. Another target for the uptrend may be resistance at 1.6200, where in this area is located this year’s high.
