EURNZD Wave Analysis – 2 April 2025

EURNZD: ⬇️ Sell

– EURNZD reversed from resistance area

– Likely to fall to support level 1.8700

EURNZD currency pair recently reversed down from the resistance area located between the resistance level 1.9100 (which stopped the earlier sharp upward impulse wave I at the start of March) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the earlier short-term impulse wave iii of the upward impulse wave 3 from the end of February.

Given the strength of the resistance level 1.9100, EURNZD currency pair can be expected to fall to the next support level 1.8700.