EURNZD recently reversed down from the resistance area lying between the powerful resistance level 1.7540 (which has been repeatedly reversing the price from the start of August) and the upper daily Bollinger Band. The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Evening Star. Given the moderate New Zealand bullishness seen across the markets today – EURNZD is likely to remain under bearish pressure today and fall further toward the next support level 1.7300 (low of the previous short-term ABC correction (ii) from the end of September).