Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
• EURNZD reversed from strong resistance level 1.6835
• Likely to fall to support level 1.6600
EURNZD currency pair recently reversed down from the strong resistance level 1.6835 (which has been repeatedly reversing the price from the start of May).
The downward reversal from the resistance level 1.6835 stopped the previous impulse waves (iii) and C.
Given the widespread euro losses, EURNZD can be expected to fall further toward the next support level 1.6600.
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