Since breaking its bullish trendline last month, EUR/NZD has continued to develop its bearish structure. And with a lower and high in place, we suspect it could be ready for another bearish leg. We can see on the daily chart is closed firmly beneath the bullish trendline on the day RBNZ held rates. Price action has since broken a prior swing low and a recent correction stalled perfectly at the 50% retracement level and 50-day average. Furthermore, a bearish hammer formed and yesterday’s price action has already broken beneath it which suggests a swing high could be in place. Whilst prices trade below 1.7058, the bias ... (full story)