Currency pair analysis EUR/NZD

The currency pair is traded in the upper edge of the descending channel. The ascending wave pattern is truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought conditions.

EUR/NZD rate online: monitor the price movement in real time.

Trading idea:

Sell when the descending wave pattern is formed, where the wave (A) breaches either the pivot 2 of the wave C (1.6669) or the inclined channel of the ascending truncated pattern.

Stop loss is over the resistance level 1.6828.

Target levels – 1.6500; 1.6080.