With the current strength of the NZD we often look to weaker currencies to trade against.
With the USD strength as ongoing economic uncertainty with Italy and Brexit the EURO remains on our list for lower prices.
Technically we can see the 4hr timeframe forming a downtrend with lower lows and lower highs. This market has also broken through a key support level of 1.7410. Applying the Fibonacci tool we can see the 38.2 retracement lining up with our previous structure lows. We expect this market to continue lower as long as the 4hr trend stays intact.
With the USD strength as ongoing economic uncertainty with Italy and Brexit the EURO remains on our list for lower prices.
Technically we can see the 4hr timeframe forming a downtrend with lower lows and lower highs. This market has also broken through a key support level of 1.7410. Applying the Fibonacci tool we can see the 38.2 retracement lining up with our previous structure lows. We expect this market to continue lower as long as the 4hr trend stays intact.