Lately EURNZD broke support at 1.5820, we predicted move in 1.5400 direction. Price already reached that and traders could realize some of the profits.

On the chart we can see that price is respecting EMA 8/21 channel and since those lines crossed and moved down there was not a single close above 8-days EMA.

If that would happen, we can see bigger bullish correction which should end near 21 EMA or even higher – testing 1.5820 resistance. On the other side after decreases coming back and breaking 1.5400 support next target will be near 1.4950.

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