Current price: 1.7800
Key point: 1.7770
Our preferred direction: buy positions at the highest levels of 1.7770, targeting 1.7915 as the first target, then 1.8080 as the second target.
Alternative scenario: Stop loss and change direction by breaking 1.7770, targeting 1.7670.
Technical commentary
The EUR/NZD pair is moving above a rising trend line on the daily frame from the low of last December and has reached support levels at the 1.7675-1.7770 area.
With the formation of the harmonic BAT pattern with 88% Fibonacci retracement of the XA leg, it is expected that the price will rise again to 1.7915 levels, then 1.8080 levels
