The EUR/NZD pair retreated during the Asian trading period on Monday with the start of the week's trading for the second day in a row, as the pair is trying to break the levels of the daily uptrend, which represents the lower limit of the bullish wedge on the Daily time frame.

We expect that as soon as this trend is broken and the daily candle is closed, the pair will retreat to complete the shark Harmonic Pattern, which targets the levels of 1.7525 and before it an initial target near the levels of 1.7750.

This scenario fails in the event of a re-entry and closing inside the uptrend.