EUR/NZD Trade idea

EUR/NZD has made a high of 1.6440 and retreated from that level. It is currently trading at 1.6283.

• Potential Reversal Zone (PRZ) -1.6385 (Trend line resistance joining 1.6915 and 1.6512)
   
• Any break above 1.6385 will take the pair to next level to 1.6440/1.6460 level.
   
• On the downside it has broken minor trend line support around 1.6300(trend line joining 1.6161 and 1.6224) and break below targets 1.6160/1.6000.

It is good to sell on rallies around 1.6295-6300 with SL around 1.6385 for the TP of 1.6160/1.6000

Resistance

R1- 1.6385

 R2-1.6440

R3- 1.6460

Support

S1-1.6300

S2-1.6160

S3-1.6000