Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: EURNZD

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