Testing the support level from 2019

EURNZD showing bearish trend and yesterday it finally reached its support level from December 2019. I'm taking a Long position hoping that it will have a reversal effect and reaches a breakout in next couple of days. I will making a Profit Taking at 1.6730. To anticipate a breakout, I set Stop Loss at 1.6530 using the support from July 2019. Estimate of risk to reward ratio is 1:2.