EURNZD: Bearish Setup in Play?

EURNZD Faces Resistance Within Defined Range – Bearish Setup in Play?

EURNZD appears to be forming a range-bound trading structure, with key levels defined between 1.9050 and 1.9230.

Yesterday, price action tested the upper boundary at 1.9230, where it encountered strong resistance.

If the pair fails to break above this level and sustains trading below it, bearish momentum could build throughout the day.

While the setup carries some risk due to the range environment, it offers potential for downside movement.

Intraday targets: 1.9150; 1.9100 ; 1.9050

You may find more details in the chart!
Thank you and Good Luck!

❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.