This pair has dropped about 400p since my original post in OCT. It broke the 1.6780 support handle this week falling to 1.664 support. Just remember that this pair is in a strong uptrend and being a counter trend trade, it remains a risky trade. The pair closed above the 1.6780 handle on Friday and I will stay on the sideline for now or take scalps until the trendline breaks bearish and we see a weaker EUR and stronger NZD. A close above KEY resistance will negate the bearish outlook.