Categories: Technical analysis

EURNZD Wave Analysis – 25 May 2023

• EURNZD broke resistance level 1.7550

• Likely to rise to resistance level 1.7800

EURNZD continues to rise after the earlier breakout of the resistance level 1.7550 (top of the previous correction B), intersecting with the 38.2% Fibonacci correction of the ABC correction (2) from April).

The breakout of the resistance level l 1.7550 accelerated the active intermediate impulse wave (3).

Given the overriding daily uptrend, EURNZD can be expected to rise further toward the next resistance level 1.7800.

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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