EUR/NZD looking for a bullish consolidation

EUR/NZD looking for a bullish consolidation

EUR/NZD has been doing a retracement from the highs of May 15th and it’s challenging the Fibonacci area of 65% at 1.7073, where the bulls are trying to push higher to the pair in order to ride the overall structure. It should provide the enough momentum to go for a breakout above 1.7292. If that happens, then the focus will shift to the Fibonacci area of -23.6% at 1.7371. However, if the lows from May 17th give up, then it can plummet towards 1.6955.

RSI indicator stays slightly in the neutral territory.

EURNZDH1.png

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