© Dukascopy Bank SA
Currently, EUR/NZD is hovering slightly above the 1.61 mark, after touching the upper trend-line around 1.62. The pair is still rather far away from the triangle's apex, thus it is possible that the break-out will occur only after a few trading days, when the downward momentum will reach its peak. Also, the SWFX market participants are bearish on the pair, as 61.03% of them have opened a short positions. Therefore, if the volatility increases, when the lower trend-line will be reached then we are likely to see a bearish break-out.
© Dukascopy Bank SA