EURNZD Wave Analysis 12 November, 2020

• EURNZD reversed from long-term support level 1.7145

• Likely to rise to 1,7400

EURNZD today reversed up from the support zone located between the long-term support level 1.7145 (which also previously stopped the extended downtrend in July) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous short-term impulse wave 3 of the impulse sequence (3) from October.

EURNZD is likely to rise further toward the next resistance level 1,7400 (former minor support from the start of November).