EUR/NZD trade Idea

Harmonic pattern formed- Bullish cypher' pattern

Potential Reversal Zone (PRZ) - 1.6650

• EUR/NZD has made a low of 1.6750 and recovered from that level. Overall trend is bullish as long as support 1.6650 holds.
• Any break below 1.6750 will drag the pair further down till 1.6700/1.6660.
• Break below 1.6650 confirms trend reversal and decline till 1.6525 is possible.
• On the higher side minor resistance is around 1.6850 and break above would extend gains till 1.6950/1.7000.

It is good to buy at dips around 1.6725-30 with SL around 1.6650 for the TP of 1.6930

Resistance

R1- 1.6850

R2-1.6950

R3- 1.7000

Support

S1-1.6750

S2-1.6690

S3-1.6660