EURNZD Wave Analysis – 21 April, 2020

• EURNZD reversed from support area
• Likely to rise to 1.8480

EURNZD recently reversed up from the support area lying between the support level 1.7845 (which stopped the previous wave A with the Bullish Engulfing) and the lower daily Bollinger Band.

The upward reversal from this support area started the active short-term corrective wave B.

EURNZD is expected to rise further toward the next resistance level 1.8480 (intersecting with the 61.8% Fibonacci retracement of the previous downward correction from March).