EUR/NZD –channel continues

Sep 20, 2023

Bearish: We are currently @ 1.7941 in a well-built channel. We have convergence for the downside move. If we can break this support here, we are looking for a continuation to the ATR Target @ 1.7875 with the further target for today the 1.000 Fibo @1.7782. Watch the USDX for direction. The average daily true range (ATR) for the pair is 129 pips per day and it’s 90 day average is 143 pips per day. USDX is currently moving down.