Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
• 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).
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