After having looked at the chart for EURNZD (having initially had a short bias) I noticed what i would like to believe is an ascending triangle. The analysis published her illustrates my thinking.
DISCLAIMER: This information is provided as an opinion only and is in no way meant to be used for trading purposes.
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The pair closed just above the support level at 16860 a close below this level would possibly open up to 1.6864 and then 1.6770
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first support breached at 1.6840 next support is at 1.6770. If the pair closes below 1.6770 then I expect it to reach 1.6675 which is the lower end of the green arrow.
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the pair reached the 1.6770 and got rejected, I will now wait for the daily close.
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the pair has now reached the end of the expected drop.