EURNZD Wave Analysis – 17 June, 2020

• EURNZD reversed from resistance zone

• Likely to fall 1.7200

EURNZD recently reversed down from the resistance zone lying between the resistance level 1.7640 (former support from May and March) and the 38.2% Fibonacci retracement of the pervious downward impulse (C) from May.

The downward reversal from this the resistance zone stopped the pervious impulse wave 1.

EURNZD is likely to fall further toward the next support level 1.7200 (low of the previous impulse wave (C)).