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EUR/NZD Showing a Nice Daily Pin Bar Off Key Level

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The EUR/NZD was unable to gain enough push to overcome the key 1.606 level yesterday, forming a nice pin bar on the daily chart.

I suspected that we would’ve seen a pull back before the big drop, but sometimes pin bars at levels like this don’t see a pull back. I think we’ll see some support come into play in the 1.577 area, although if the bears can push past it we could see 1.56 in the near future.

eurnzd pin bar off key level

 

A larger view so you can see the level in play…

eurnzd pin bar off key level

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