EURNZD today broke through the resistance area lying at the intersection of the resistance level 1.6770 (which has been reversing the price from February) and the 50% Fibonacci correction level of the previous sharp downward impulse from January.
The breakout of this resistance area accelerated the active short-term impulse wave (C) of the ABC correction 2 from the end of March.
EURNZD is expected to rise further and re-test the next round resistance level 1.7000 (target price for the completion of the active wave 2).
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