EURNZD Wave Analysis – 06 April, 2020

• EURNZD broke support area
• Likely to fall to 1.8000

EURNZD recently broke the support area located between the support level 1.8200 (low of the pervious short-term correction (a)) and the 50% Fibonacci retracement of the pervious upward impulse from February.

The breakout of this support area accelerated active short-term impulse wave (c) of the ABC correction 2 from March.

EURNZD is likely to fall further toward the next round support level 1.8000 (61.8% Fibonacci retracement of the pervious the aforementioned impulse wave from February).