EURNZD: Rising Wedge Signals Potential Reversal

EURNZD: Rising Wedge Signals Potential Reversal

The price is moving within a rising wedge pattern, which usually signals a potential bearish reversal.

Recently, the price reached 2.0300, marking a new all-time high that dates back to November 2009. Overall, the EURO is very overvalued.

If the wedge pattern holds this time, then the main targets are as follows:
2.0200.
2.0110
2.0030.

NZD weakness was attributed to the New Zealand economy not performing as expected, according to the RBNZ. I can't say if this is true, because the current economic situation is a mess in all major economies due to Trump's tariffs.

You may find more details in the chart!
Thank you and Good Luck!

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