EURNZD is trading in a strong bullish trend from the beginning of April. Higher lows are perfectly respecting a rising trend line on a daily.
After setting a new high, the price retraced to a trend line again. Pay close attention to a horizontal trading range on 4H. Wait for a bullish breakout of its 1.6635 - 1.6685 resistance to catch a bullish movement. You need a 4H candle close above to confirm a breakout. Target will be 1.6817.
If the price breaks a trend line to the downside, the setup will be invalid and a bearish continuation will be expected.
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