EURNZD Long BiasThe EURNZD pair is currently breaking out of a descending trendline on the 4H timeframe, signaling a potential shift in momentum. The price has recently bounced from a key demand zone, aligning with the 38.2% Fibonacci retracement level, suggesting strong bullish interest.
Additionally, the price is now trading above key moving averages, reinforcing the bullish bias. A sustained break above the breakout level could confirm further upside potential, with the next target around the 1.92 zone. However, if the price fails to hold above the breakout level, a potential retest of the demand zone near 1.87 could be expected before resuming upward momentum.