EURNZD recently reversed up from the support area lying between the pivotal support level 1.7500 (former strong resistance level from August), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from August.
The upward reversal from this support started the active short-term impulse wave (v) – which belongs to the medium-term impulse wave 3 from June.
EURNZD is expected to rise further and re-test the next resistance level 1.7800 (top of the previous impulse wave (iii) from September).
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