This pair has broken the support at 1.6700 or rather showed false break above this level before reversing uptrend. I see 2 possibilities here.
Pair will retrace up to retest 1.67 before resuming downtrend. OR
Pair will break support at 1.64 to move towards 1.61. This is fast moving pair so 2nd possibility is more likely to happen.
I have placed sell limit at 1.66300 and sell stop at 1.63400.
Pair will retrace up to retest 1.67 before resuming downtrend. OR
Pair will break support at 1.64 to move towards 1.61. This is fast moving pair so 2nd possibility is more likely to happen.
I have placed sell limit at 1.66300 and sell stop at 1.63400.
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| EUR/NZD Daily 07012014 |
