Technical analysis EURNZD for 03.06.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.63750. The closest resistance is the level 1.64750

Key levels

• 1.66575, 1.65600, 1.64750, 1.63750, 1.62750, 1.61800

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.63750, with Take Profit of 1.62750 and Stop Loss of 1.64750

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.64750, with Take Profit of 1.65600 and Stop Loss of 1.64220