EURNZD Wave Analysis – 23 March 2023

• EURNZD reversed from key resistance level 1.7450

• Likely to fall to support level 1.7200

EURNZD currency pair recently reversed down from the key resistance level 1.7450 (which reversed the pair multiple times in last October).

The resistance level 1.7450 was strengthened by the upper daily Bollinger Band and by the resistance trendline of the daily up channel from January.

Given the strength of the resistance level 1.7450, EURNZD can then be expected to fall further toward the next support level 1.7200.