EURNZD recently reversed down from the resistance zone located between the resistance level 1.68550 (former strong support from the December), upper daily Bollinger Band the 61.8% Fibonacci correction of the previous downward impulse from the start of December. The downward reversal from this resistance zone created the daily reversal pattern Shooting Star. Given the strengthening bearish New Zealand dollar sentiment and the clear daily downtrend – EURNZD is likely to fall further toward the next support level 1.67350 (which reversed the price earlier this month).