EURNZD: Key Resistance at 1.8430 and Rejection from Highs
As of February 14, 2025, the EURNZD pair is once again testing the key resistance zone around 1.8430 after showing a clear rejection in previous sessions. The price has reacted from the support zone at 1.8235, which continues to act as a strong defense level for buyers. However, the strong rejection from the weekly resistance area suggests a possible new phase of weakness.
Technical analysis indicates interaction with key moving averages, with the price rebounding from the mid-term moving average but struggling to break through the upper liquidity zone. If the market stays below 1.8435, it could trigger a decline towards 1.8235, and if broken, a further extension towards 1.8100. Conversely, a decisive close above 1.8435 could open the way for a breakout attempt towards 1.8500. The macroeconomic context remains a key factor to monitor, with the strength of the euro and the Reserve Bank of New Zealand’s policy likely to influence the future direction of the pair.
Technical analysis indicates interaction with key moving averages, with the price rebounding from the mid-term moving average but struggling to break through the upper liquidity zone. If the market stays below 1.8435, it could trigger a decline towards 1.8235, and if broken, a further extension towards 1.8100. Conversely, a decisive close above 1.8435 could open the way for a breakout attempt towards 1.8500. The macroeconomic context remains a key factor to monitor, with the strength of the euro and the Reserve Bank of New Zealand’s policy likely to influence the future direction of the pair.
Trade active
Good reaction of the price at my trade entry. Waiting for the TP, which missed yesterday by 2 pips.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.