Technical analysis

EURNZD Wave Analysis – 25 January, 2023

EURNZD Wave Analysis – 25 January, 2023

• EURNZD reversed from support level 1.670

• Likely to rise to resistance level 1.7000

EURNZD currency pair recently reversed up from the key support level 1.670 (which stopped the previous waves (a), A and (2)) intersecting with the lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse (1) from December.

The upward reversal from the support level 1.670 continues the active intermediate impulse wave (C)

EURNZD currency pair can be expected to rise further toward the next resistance level 1.7000 (top of the sideways price range inside which the pair has been moving from December).

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