On daily chart EURNZD we can see a bullish trend. This is evidenced by sequence of increasingly high highs and lows and the rising ribbon of averages EMA (75,100-period). Currently price is testing a strong resistance around psychological level of 1.6000. Breaking this area will open the way for further increases. It’s worth looking at a chart with a lower time interval.
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H1 chart shows strong bullish pressure. You can see a strong impulse that is continued. Price formed a growth channel. Currently quotations are above the upper limit of the formation. Probably there will be a bearish response that will lead to a correction. Support is located around the lower limit of formation.
