EURNZD Wave Analysis 3 February, 2021

• EURNZD broke support level 1.6800

• Likely to fall to support level 1.6600

EURNZD recently broke the key support level 1.6800 (which reversed the price twice in January) – which accelerated the active short-term impulse wave 5.

The active impulse wave 5 belongs to the extended multi-month downward impulse sequence (3) from last August.

EURNZD currency pair can be expected to fall further toward the next support level 1.6600. Strong resistance now stands at the broken price level 1.6800.