The EURNZD traded to a 5 day low today but closed higher on the day (and above yesterday’s close) in what is known as a key reversal day (candlestick traders will know this specific pattern as a hammer). Momentum is divergent at the low (notice RSI). The bar/candle pattern and momentum considerations warn of a reversal. Trading above trendline resistance would increase the odds that a low is in place.
