EUR/NZD Formed a Double Top

EUR/NZD reached the resistance at 1.5500 again but was unable to break above that level and formed a double top below it. The pair also formed a clear shooting star candlestick below the same resistance level on the four-hour time-frame and I think that is a good signal that EUR/NZD will start moving to the downside soon. Should that happen its first target will likely be around the support at 1.5400, and if the pair succeeds in breaking out below that support we can likely expect a further move to the downside towards the next support at 1.5350, which coincides with (MA)89 on the four-hour time-frame.