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EURNZD Wave Analysis – 17 April, 2020

The FxPro Tech Analysis Team
EURNZD Wave Analysis – 17 April, 2020

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 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).

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