EUR/NZD About to Explode? Traders Are Watching THIS Level!

📊 General Analysis of EUR/NZD (Higher Timeframe)
1. 📌 Price Context
The price had a strong bounce from a demand zone (highlighted in light blue) around 1.85.

It then broke through multiple supply zones (gray and maroon) to the upside and is currently hovering near 1.91874.

🔍 Key Zones
🔵 Demand Zone (Support)
Range: 1.8430 – 1.8712

This zone has been tested multiple times, with long wicks to the downside → indicating strong buying interest.

A powerful bullish move originated from this area.

🔴 Supply Zone (Resistance)
Current resistance: 1.9187 – 1.9450

This is where the price is currently paused → potential rejection area.

Monthly upper zone (1M): 1.96 – 2.00

A strong long-term resistance. If reached, we might see profit-taking or even a reversal.

🕯️ Candles & Momentum
The large green candle represents a strong bullish breakout.

The weekly candle (labeled "1W") shows indecision → this could be a pause before continuation or the beginning of a pullback.

🔮 Possible Future Scenarios
✅ Bullish Scenario
If the price decisively breaks above 1.9187, the next target is 1.9600 – 2.0000.

⚠️ Bearish Scenario
If price gets rejected at current levels, it may fall back into the support zone 1.8712 – 1.8500, which has previously shown strength.

📈 Lower Indicator (Likely RSI or Wavetrend)
Currently bouncing from an oversold area.

No clear overbought signals → there’s room for more upside.

🧭 Conclusion
Current trend: Bullish (especially in the short to mid term).

Key levels to watch:

Resistance: 1.9187 and 1.96–2.00

Support: 1.8712 and 1.85