The EURNZD price formed strong bullish rally on last Friday to surpass the bullish channel’s resistance line at 1.8880, achieving big gains by reaching 1.9050, while the current sideways fluctuation is caused by stochastic attempt to exit the overbought areas, to keep waiting to gather the additional positive momentum soon followed by starting to target new positive stations that might extend towards 1.9090 followed by reaching 1.230.

 

Note that declining below the breached resistance will postpone the bullish attack for now to start activating the correctional bearish track before reaching the suggested targets.

 

The expected trading range for today is between 1.8900 and 1.9100

 

Trend forecast: Bullish