EURNZD Wave Analysis – 26 August, 2020

• EURNZD reversed from resistance level 1.8200

• Likely to fall to 1.7870

EURNZD recently reversed down from the resistance level 1.8200 (which has been reversing the pair from April) – standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 1.8200 started the active short-term corrective wave 4.

EURNZD is likely to fall further toward the next support level 1.7870 (target price for the completion of the active correction 4).