EUR/NZD - Daily
EUR/NZD - 4 Hourly
Wave summary:
EUR/NZD continues to rally nicely towards the 1.6636 target, this resistance should only prove to be a minor bump on the way higher towards the 1.6969 target. Longer term, we are looking for even higher levels, with 1.7038 seen as the next upside target once resistance at 1.6969 is cleared too.
Support is now seen at 1.6330 and is expected to protect the downside for the rally to 1.6636 and above.
R3: 1.7038
R2: 1.6969
R1: 1.6711
Pivot: 1.6500
S1: 1.6440
S2: 1.6366
S3: 1.6330
Trading recommendation:
We are long EUR from 1.6150. We will move our stop higher to 1.6275. If you are not long EUR yet, then buy near 1.6330 and use the same stop at 1.6275.
The material has been provided by InstaForex Company - www.instaforex.com
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