EURNZD under bearish pressure after the earlier downward reversal from the multi-month resistance level  1.79300 (which stopped and reversed the previous extended uptrend in last July, as can be seen from the daily EURNZD chart below). The downward reversal from this resistance level created the daily candlesticks reversal pattern Shooting Star Doji – which stopped the earlier impulse waves 3 and (3). Given the rising New Zealand bullish sentiment seen across the markets today – EURNZD is likely to fall further toward the next support level 1.76800 (former multi-month resistance from the start of October, acting as support after it was broken recently).