MonsunAsia

EURNZD - Bearish Bias

Short
FX:EURNZD   Euro / New Zealand Dollar
EURO - Weak Bearish
1️⃣ Pressured by negative sentiment in the Eurozone.
2️⃣ Concerns about the spread of COVID-19 variant Delta in the region.
3️⃣ In August 2021, ZEW economic sentiment in the Eurozone fell by 18.5 points to 48.7 from the previous month’s 61.20.
4️⃣ Both Manufacturing and Services PMIs in the Eurozone declined due to the rise of COVID-19 in the region.
5️⃣ The German IFO business climate is forecast to deteriorate, following a decline in German ZEW sentiment.

NZD - Strong Bullish
1️⃣ Recovered from a massive sell-off last week after Fed Officer Robert Kaplan considered delaying a reduction in Fed stimulus.
2️⃣ A positive market environment benefits high-beta currencies such as the NZD.
3️⃣ In the second quarter, retail sales in New Zealand increased by 3.3%, following a 2.8% increase in the previous period.

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Technical
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We are selling the EURNZD after it failed to break resistance levels.

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Risk to this trade
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Any change in sentiment could turn the pair's direction.
Trade active
Trade closed manually: ✅ CLOSE MANUALLY ON 1.68900

+25 PIPS

Asian shares is trading lower.