• EURNZD reversed from key support level 1.75000
• Likely to rise to resistance level 1.7720
EURNZD currency pair earlier reversed up from the key support level 1.75000 (former strong resistance from last October).
The support level 1.7500 was further strengthened by the 38.2% Fibonacci correction of the earlier upward impulse from the start of April.
EURNZD can then be expected to rise further toward the next resistance level 1.7720 (which reversed the price earlier this month).
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