EUR/NZD's Bullish Signal: Targeting 1.84 with Strong Risk-Reward

After hitting a local low near the 1.75 zone earlier this month, EURNZD reversed to the upside, beginning its first leg of recovery and surpassing the key 1.80 level.
Over the past two weeks, the pair has been in a phase of correction and consolidation, hovering just below this important resistance.

However, yesterday’s strong bullish move may signal the end of this consolidation phase.
Looking ahead, I anticipate a new leg up, with the potential for the price to retest the 1.84 resistance level.
For traders, positioning with a stop-loss placed just below the recent low offers a compelling 1:4 risk-to-reward ratio.