EUR/NZD: A Double Bottom?

EUR/NZD has been steadily declining for the past month and a half, but it appears that we will likely see a move to the upside soon, as the pair reached the support at 1.5120 and tested it twice, but was unable to break below that level and formed a double bottom visible on the four-hour time-frame, which is usually a signal for an impending move north. Should that happen its first target will likely be the resistance level at 1.5330, which is also the previous high the pair formed after it bounced off 1.5120. A breakout above 1.5330 could lead to a further move to the upside towards 1.5490, which is (MA)89 on the four-hour time-frame.