Categories: Technical analysis

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.

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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