EUR/NZD Going South

So over the last week we have seen price in the EUR/NZD show a break of the small ascending trendline. Price on friday printed a shooting star rejection from the trendline, resistance and EMA's. We are now looking for price to break friday's daily low and continue bearish with the first target being the 1.54200 support. A break of the 1.54200 support and we will target the next support.

Major bear target is seen at 1.51400 and if that level is broken, then there would be an open path to the base of the Fibonacci retracement at 1.4580.

On the other hand, bulls might take advantage of the lower prices and buy in the Euro in a week full of economic data. The pair is worth monitoring this week as we have the NFP and Jobs report and that could have a big impact in every market.