EURNZD Wave Analysis – 25 June, 2020

• EURNZD reversed from resistance level 1.7565
• Likely to fall to 1.7200

EURNZD recently reversed down from the key resistance level 1.7565 (which has been reversing the price from the start of this month) – strengthened by the 38.2% Fibonacci correction of the previous downward impulse from May.

The downward reversal from this resistance level started the active medium-term impulse wave (3).

EURNZD is likely to fall further toward the next support level 1.7200 (low of the previous impulse wave (5), intersecting with the weekly up channel from 2019).