© Dukascopy Bank SA
Even though there are merely 30 bars now composing the bullish channel on an hourly chart of EUR/NZD, it may still prove to be topical in the near term, considering that the market has been respecting the trend-lines forming it.
The support is thus likely to be found at 1.6586, there the pair will also find the daily pivot point and four-hour S1. In case this level initiates a rally, the price is probably going to encounter the rising trend-line resistance at 1.67, but before that will have to cross a combination of the daily and four-hour R1's that stand at 1.6668.
© Dukascopy Bank SA