Best Potential Buying Zones for the EUR/NZD Pair (4-Hour Timeframe)

Today, the EUR/NZD pair surged from daily demand zones, breaking through resistance levels and shattering a downtrend. This has established strong new buying zones on the 4-hour timeframe.

These newly formed zones are currently the best areas to look for buying opportunities in the near term; a rebound is expected should the price pull back to retest them.

Expected Targets

If the price retests the new demand zones—near the 1.9620 level—we anticipate a resumption of the upward move toward the targets of 1.9690 and 1.9780, respectively.

The stop-loss should be set upon the close of a bearish candle below the zones marked on the chart.