EUR/NZD is currently trading near 1.6224 in a channel after a sideways move. If we can break the resistance here, we are looking for a continuation towards the ATR target of 1.6311 and then to the range top at the 1.6400 area.
Watch the DXY for any change in direction. The ATR for the pair currently is 165 pips per day, and its 180-day average is 149 pips per day. DXY is currently up but could be topping out soon at this post.
