EUR/NZD
The cross has sharply bounced in the recent sessions and has tested an important long term resistance (at 1.5920 today). The close below this threshold signals a likely consolidation in the coming sessions toward 1.57354, possibly 1.5627 (short term retracements). In the medium term, the presence of an inverted head & shoulder pattern signals a bullish risk for the coming weeks which would be validated by a break above 1.5920. Sell – Stoploss @ 1.5870 – Target @ 1.5735.
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Natixis