EUR/NZD has recently broken down through the extended Key Support Level 1.6007 which has been recently identified on the 4-hour charts. The Significance of this support level is measured at the 3- bar level which corresponds to the 3 reversals from 1.6007 level during the last 245 candles. This Breakdown continues the long-term downtrend visible on the daily and the weekly EUR/NZD charts. The pair is expected to fall further in the direction of the Forecast Price 1.5674, which is also indicated by the PowerStats analysis shown below.
As can be seen from the PowerStats chart below, all of the daily Expected Price Range for EUR/NZD for tomorrow (from 1.5980 to 1.5775) stands below the above broken Key support Level 1.6007, which increases the probability that this currency pair will fall further tomorrow.