EURNZD Wave Analysis 8 December 2023

– EURNZD reversed from support level 1.7530

– Likely to rise to resistance level 1.7800

EURNZD recently reversed up from the strong support level 1.7530, which has been steadily reversing the pair from the middle of January.

The support level 1.7530 was strengthened by the lower daily Bollinger Band.

Given the strength of the support level 0.9420 and the oversold daily Stochastic, EURNZD can be expected to rise further to the next resistance level 1.7800.