EURNZD Wave Analysis – 16 October, 2019

EURNZD reversed from support area
Likely to rise to 910.00

EURNZD today broke above the key multi-month resistance level 1.7560 (which has been reversing the price from the start of August).

The breakout of the resistance level 1.7560 continues the active short-term impulse wave C of the extended ABC wave from March.

EURNZD is expected to rise further and retest the next resistance level 1.7800 (target for the completion of the active impulse wave C).

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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