EURNZD Technical Analysis: Weekly Chart

In the weekly charts, EURNZD is trading in a down channel.
It is trading below all SMA.
The immediate support is 1.6059 & the resistance level is at 1.6318.
EURNZD is trading in the down channel until there is a trend reversal.
EURNZD Technical Analysis: Daily Chart

In the daily charts, EURNZD is trading in a down channel.
It is trading below all SMA.
The immediate support is 1.5993 & the resistance level is 1.6218.
EURNZD is trading in the down channel until there is a trend reversal.
How to Trade EURNZD this Week:
EURNZD will follow the downtrend until their trend reversal. So, remain bearish on EURNZD.
TRADE SUGGESTION- SELL AT 1.6119, TAKE PROFIT AT 1.5989 AND STOP LOSS AT 1.6218