EUR/NZD 1H Chart: Double Bottom

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following a rise to more than a three-month high in the very end of December, the Euro commenced an accelerating depreciation versus its New Zealand peer that eventually resulted in the 101-bar long double bottom pattern. Now the currency pair is recovering after hitting an eight-week low for the second time, implying that a continuous advance may lie ahead. However, the advance may be constrained by a formidable resistance represented by the pattern's neck-line at 1.6505.
© Dukascopy Bank SA
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