Resistance turns into Support level on EURNZD

Resistance turns into new support level

EUR/NZD fall down continuosly from 1.99 to 1.76 Support Price level. It is considered as a new Support zone. Resistance turns into new support.

As per the resistance and support strategy, Old Resistance acting now as a new support zone in EUR/NZD daily chart. EUR/NZD is bouncing up harder after hitting the new support.

In 1 hour chart, Breakout happened at the top zone of the downtrend line.

breakout at descending channel chart

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