EUR/NZD: More Downside Likely
Scott Barkley | Oct 26, 2021 08:51AM ET
EUR/NZD is not out of the woods yet. At the time of writing, the pair trades at 1.6172 in a channel.
We are looking for an initial move to the average true range (ATR) target at 1.6092 and then down to the S4 support near the 1.6070 area.
Watch the pair for any change in direction. The ATR for the pair currently is 123 pips per day, and its 180-day average is 123 pips.
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