EURNZD short position

If the price breaks and closes below the 1.81685 level, a short position could be initiated with the expectation that the price might head towards the 1.79252 support area.


The price is currently near a key support level around 1.81685, and there is a significant red bearish candle indicating selling pressure.
There is also a pattern that could resemble a bearish pennant, with a downward sloping upper trendline and flat lower support. A break below the 1.81685 level could signal further downside.