Here we have FX:EURNZD which has been setting up for a very nice short over the two last weeks, we are looking at multiple TVC:EXY pairs as we expect a lot of further weakness to come in the near future due to a struggling EUROZONE.
As we can see on the chart, FX:EURNZD has been flirting with the monthly resistance at 1.67-1.674 which it was unable to push above on 3 previous occasions. Currently the pair is trading within a is a chart pattern and what we are looking for in this case is for continuation.
The first support is our target of 1.63 followed by 1.60 and finally 1.57
Have a great week guys and REMEMBER, a trader is only as success as his risk