Technical analysis

EURNZD Wave Analysis – 13 July, 2020

EURNZD Wave Analysis – 13 July, 2020

• EURNZD reversed from support area

• Likely to rise to 1.7400

EURNZD recently reversed up from the support area located between the key support level 1.7180 (low of wave 3 from the start of June) and the lower daily Bollinger Band.

The upward reversal from this support area marked the end of previous extended downward impulse sequence (C) from the middle of March.

EURNZD can be expected to rise further toward the next resistance level 1.7400 (former multi-candle support level from the middle of June).

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