EURNZD Wave Analysis 22 October, 2020

• EURNZD reversed from resistance level 1.7880

• Likely to reach 1.7600

EURNZD recently reversed down from the resistance level 1.7880 (which has been reversing the price from September) – intersecting with the upper daily Bollinger band.

The downward reversal from the resistance level 1.7880 created the daily candlesticks reversal pattern Bearish Engulfing.

EURNZD is likely to fall further in the active impulse wave (3) toward the next support level 1.7600 (low the previous minor correction B).