The EUR/NZD went into a retracement mode reaching confluence spot where we might be looking for short trade opportunities.
1.7005-15 is the POC zone where the price is consolidating. We can also spot a T-89 pattern and the re-entry dot (pink). It could create another bearish pressure if sellers join the fray. Targets are 1.6980 followed by 1.6960. As the price already went below W L5, it is a sign of strong bearishness in the EUR/NZD pair. However, today is NFP so we will see a big volatility later during the US session. Be careful with risk placement.
The analysis has been done with the CAMMACD.MTF template.
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