The pair had a breakout to the downside in the beginning of April. Traded to the nearest obvious support at 1.66877 then bounced off to retest the broken channel where it meets a double resistance represented in the broken channel and the upper monthly wedge. I have a bias to the short side as EUR would be falling ahead to the NZD. A short swing...
The descending channel was broken 2 days ago with a nice close above the mid BB. A pull back retest is expected to the channel border which can be a good place to go long for new comers.
We can buy it cheap @ 1.057 with 1st target at 1.082 and a 2nd target @ 1.103