EUR/NZD –Range opportunity down
Bearish: We are currently @ 1.7635 in a range. IF we can break this support, we are looking for a continuation to the ATR target @ 1.7513 with a further target the range bottom @ 1.7450 area. Watch the USDX for direction. The average daily true range (ATR) for the pair is 158 pips per day and it’s 180 day average is 159 pips per day. USDX is currently moving up but may be topping out.