EURNZD Wave Analysis – 15 February, 2019

• EURNZD broke key support level 2.690
• Further losses are likely

EURNZD today broke below the key support level 2.690 (which has been reversing the price from the end of December, as can be seen below).

The breakout of the support level 2.690 should accelerate the active short-term impulse wave 3  – which belongs to the medium-term impulse wave (3) from the start of January.

EURNZD is expected to fall further and re-test the next support level 1.6320 (low of the previous wave (1) and the target price for the termination of the active impulse wave 3).