EURNZD Wave Analysis – 2 July, 2020

EURNZD Wave Analysis – 2 July, 2020

• EURNZD broke key support level 1.7370

• Likely to fall to 1.7200

EURNZD recently broke below the key support level 1.7370 (former multi-day low which repeatedly reversed the pair in June).

The breakout of the support level 1.7370 continues the active short-term impulse wave 3 – which belongs to the impulse wave (3) from the start of June. EURNZD is likely to fall further toward the next support level 1.7200 (low of the previous impulse wave (1)) – the breakout of which will lead to further losses toward 1.7000.