Categories: Technical analysis

EURNZD Wave Analysis 23 August 2023

 

– EURNZD reversed from resistance level 1.8500

– Likely to fall to support level 1.8000.

EURNZD recently reversed down from the key resistance level 1.8500 standing well above with the upper weekly and the daily Bollinger Bands.

The downward reversal from the support level 1.8500 stopped the earlier intermediate impulse wave (3) from June.

Given the strength of the resistance level 1.8500 and the overbought weekly Stochastic, EURNZD can be expected to fall further toward the next round support level 1.8000.

AddThis Website Tools
The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: EURNZD

Recent Posts

CAD Rises on Trudeau’s Possible Resignation

The CAD is increasing against the USD due to reports of Canadian Prime Minister Justin…

4 hours ago

Bitcoin is on the Verge of $100,000 Again

Bitcoin surges towards $100K as the crypto market cap reaches $3.5 trillion. Bitcoin displays signs…

6 hours ago

WTI crude oil Wave Analysis 3 January 2025

- WTI crude oil broke resistance area - Likely to rise to resistance level 76.00…

3 days ago

S&P 500 index Wave Analysis 3 January 2025

- S&P 500 reversed from support area - Likely to rise to resistance level 6000.00…

3 days ago

Gold growth halted but with upside risks

The technical picture for gold is mixed, but a dip below the 50-day moving average…

3 days ago

Stocks start the year in fear

The US stock market is starting the year in a state of fear, as reflected…

3 days ago