A buying opportunity for the EUR/NZD pair is awaited on the hourly timeframe.

The EUR/NZD pair continued its decline, reaching demand zones on the daily timeframe and also the confluence zones on the 4-hour timeframe.

Signs of weakening downward pressure are beginning to appear on the pair, which may indicate an imminent reversal from the current levels.

Bullshit scenario and expected targets:

If the downtrend is broken, the supply zones are breached, and the price closes above them with at least one hourly candle, we expect to see a renewed upward movement towards the targets near 1.97400, 1.98000, and 1.98700, respectively.

This bullish scenario will be invalidated if the current decline continues.