EURNZD Wave Analysis – 17 April, 2020

• EURNZD reversed from resistance zone
• Likely to fall to 1.7845

EURNZD recently reversed down from the resistance zone located between the resistance level 1.8240 and the 38.2% Fibonacci correction of the previous downward impulse from March

The downward reversal from this resistance zone stopped the previous medium-term corrective wave ② from the start of April.

EURNZD is expected to fall further toward the next support level 1.7845 (which stopped previous waves (4) and ①, as can be seen below).