EURNZD continues to climb within a steep ascending channel, maintaining a well-defined bullish structure. There are currently no signs of exhaustion, as bullish momentum remains strong and price action consistently respects both the median line and the lower boundary of the channel.This ongoing strength suggests that buyers are still in control, and unless we see a clear structural shift—such as a breakdown below the channel support or a significant loss in momentum—the uptrend remains intact.
🟢 Directional Bias: I remain bullish on EURNZD as long as price stays within this channel. Recent pullbacks to the channel's lower boundary or the previous breakout zone offer potential continuation opportunities.
🎯 Target: My upside target is 1.983, which aligns with the projected upper boundary of the channel and provides a solid technical objective if the structure continues to hold.
🟥 Invalidation: A confirmed breakdown below the channel, accompanied by follow-through, would challenge this bullish bias and suggest the potential for a deeper corrective move.
For now, the structure favors continuation over reversal.
This is simply my view on support and resistance and does not constitute financial advice. Always confirm your setups and manage risk appropriately.
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