EUR/NZD
The EUR/NZD has accentuated its decline in the recent sessions and broke below a support around 1.5550 (short term support line) which signals an extension of the decline toward 1.5385/90 (retracement of 61% of the uptrend between August & October 2012 and November 2012 low pivot). A break below this threshold would accentuate the bearish potential for the coming weeks. A return above 1.56 would instead signal a recovery as a potential heads & shoulder pattern could possibly form in the daily chart. Sell – Stoploss @ 1.5550 – Target 1.5386.
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