EURNZD at Key Resistance Level: Will it Drop To 1.87030?

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EURNZD has reached a key resistance zone, marked by strong selling pressure. This suggests the potential for a bearish reaction if sellers step in.

If the price shows clear signs of rejection from this resistance zone, I anticipate a move downward toward the 1.87030 level, which serves as a logical target for this setup. Conversely, a clean breakout above the resistance zone could signal a potential bullish continuation.

Traders should monitor for bearish confirmation signals, such as bearish engulfing candles, long upper wicks rejecting the resistance, or increased selling volume before considering short positions. Let me know your thoughts or any additional insights you might have

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