EURNZD Wave Analysis – 1 November, 2022

• EURNZD broke key support level 1.7065

• Likely to fall to support level 1.6755

EURNZD recently broke through the key support level 1.7065 (which has been reversing the price from the start of October), intersecting with the 38.2% Fibonacci correction of the upward impulse from September.

The breakout of the support level 1.7065 accelerated the active short-term correction (ii).

EURNZD can be expected to fall further toward the next support level 1.6755 (which stopped wave iv from the middle of September).