EURNZD Chart Technical Outlook moving higher within the BC leg
The daily chart highlights the cross moving higher within the BC leg of a Bat formation. A common retracement level is 88.6% of the last decline. This is located at 1.8351. The intraday chart highlights a bullish triangle formation. This could also be seen as a bullish channel. Trend line support is located at 1.8124.
From a risk-reward perspective, the favored trade is to sell into rallies.
