A strong buying opportunity for the EUR/NZD pair is approaching soon.

The EUR/NZD pair is still moving in a strong downtrend, a result of the sideways movement that followed the previous distribution.

Currently, the pair is approaching significant buying zones on the daily timeframe, located near the 1.97260 level.

The identified zones are among the best and strongest buying areas on the daily timeframe, so an upward move is expected if they are tested.

Expected Targets

As mentioned, we expect to see an upward move from the daily demand zones near the 1.97260 level, should it be tested.

The upward move is expected to reach the targets identified on the chart at 1.9840 and 1.9990, respectively.

This analysis will be invalidated if a full daily candle breaks and closes below the 1.9614 level.

Strong opportunity to buy the EUR/NZD pair soon The EUR/NZD pair continues to move in a strong downtrend as a result of the sell-off that was represented by the sideways movement. Currently, the pair is approaching important and strong buying zones on the daily chart, located near the 1.97260 levels. These specific zones are considered among the best and strongest buying zones on the daily chart, so an uptrend is expected if they are tested. Expected targets As mentioned, we expect to see an uptrend from the daily demand zones located near the 1.97260 levels, if tested. The uptrend is expected to reach the targets specified on the chart at the 1.9840 and 1.9990 levels, respectively. The analysis will fail if the candle breaks and closes a full day below the 1.9614 levels.