Categories: Technical analysis

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.

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.

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Tags: EURNZD

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