EURNZD Chart Technical Outlook corrects lower ahead of ECB members’ speeches, bears eye 1.7605*
EUR/NZD rejected May’s high for the second time and traded lower for technical reasons, as the 4H RSI showed bearish divergence, and the 4H MACD is negative. The pair trades below its weekly pivot point and POC and has more room to the downside in a broadly bullish bias.
Today’s calendar is full of ECB officials’ speeches. More hawkish comments could stall the pair.
Fading dips would be a better strategy for the pair.
Resistances: 1.7710, 1.7800
Supports: 1.7605, 1.7550