EURNZD - Selling at the 78.6% retracement

FX:EURNZD   Euro / New Zealand Dollar

Trade Idea

A bearish Head and Shoulders has formed.
We have a 78.6% Fibonacci pullback level of 1.7140 from 1.7307 to 1.6526.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.7140, resulting in improved risk/reward.

Stop: 1.7190
Target 1: 1.6955
Target 2: 1.6900
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