EUR/NZD: Yet To Trigger Broken Uptrend: Daily, Weekly, Monthly Trigger Levels – NAB

NAB FX Technical Strategy Research discusses EUR/NZD outlook and notes that the pair recent decline has not damaged the evolving uptrend yet, and only the break of well-defined support levels would place the uptrend on hold.

"Daily close below 1.6920/50 will place the interim uptrend on hold.

Weekly close below 1.6831 will complete a bearish MT reversal pattern.

Monthly close below 1.7011 will complete a modest bearish LT reversal pattern. These two closes collectively would confirm significant damage to the interim uptrend," NAB argues.

Source: NAB ResearchOriginal Article