we see that the pair is in a ABC structure and the typical price target for the current downtrend is the 1.66 level. The time zone target is shown in the chart. That area is the optimized zone wherein the trend is most likely to reverse. The target for this likely rally is 1.74 and as long as EURNZD holds above the 1.64 support, the bullish scenario remains in force. We favor a bullish scenario for this currency pair and will provide more analysis when we get a buy signal.