EURNZD Wave Analysis 21 December, 2020

• EURNZD broke resistance level 1.7240

• Likely to rise to 1,7435

EURNZD continues to rise after the price broke the key resistance level 1.7240 (top of the earleir wave (i)) – which accelerated the active minor impulse wave 1.

The breakout of the resistance level 1.7240 coincided with the breakout of the 38,2% Fibonacci correction of the downward impulse from October.

EURNZD is expected to rise further toward the next resistance level 1,7435 (former monthly low from September, acting as resistance after it was broken by the impulse wave 5).