EURNZD Analysis , Support Bounce and Bullish Potential

EURNZD is currently trading at 1.83300, with a target price of 1.89000. This suggests a potential upward movement of 500+ pips. The price is bouncing off a strong support level, indicating a possible bullish reversal. The support and resistance pattern highlights key price zones where buying and selling pressure increase. A successful bounce from support strengthens the bullish outlook. Traders anticipate the price moving towards the next resistance level at 1.89000. Confirmation through candlestick patterns and volume analysis is essential. Risk management should include a stop-loss below the support level. Fundamental factors like interest rate decisions can impact price action. Monitoring market sentiment and economic news is crucial for trade execution.