Here we have a high probability drop.
1) It breaks & retest it's channel
2) Based on price action (1H candles seem to reject the buyers & wants to keep going down).
3) DXY (Dollar Index) seems to bounce up that mean the opposite for the EURUSD
4) It was forming for a drop but because USD PPI it go up to retest.
5) Market go to EMA 200 & respected...
on DAILY: EURNZD is sitting around a strong resistance zone in green so we will be looking for sell setups
on H4: EURNZD is forming a wedge pattern in blue so we are waiting for a third swing to form around the lower blue trendline to consider it objective and sell on its break downward.
Meanwhile, until the sell setup is activated, we would be overall bullish...