EURNZD strengthened last week and on the Friday close, the bulls managed to overcome the resistance close to 1.7375. In addition, the stock prices rose to the levels seen last in September 2015. After switching to the daily chart, we can see that the course has recently also respected dynamic support in the form of a channel drawn by EMA 10/20. Buyers may now be tempted to look for long opportunities after corrections. In addition to the aforementioned averages channel, support also provides a broken resistance at 1.7375 and an upward trend line running from the low from June this year. Returning to the confluence of supports provided by the levels discussed above together with the price action signal accompanying it, could be an opportunity to buy, where the key target is visible on the resistance around 1.7940.
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