Technical analysis

EURNZD Wave Analysis 14 April, 2021

EURNZD Wave Analysis 14 April, 2021

• EURNZD reversed from resistance zone

• Likely to fall to support level 1.6700

EURNZD recently reversed down from the resistance zone lying between the resistance level 1.6945 (which has been reversing the price from January), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse 1 from December.

The downward reversal from this resistance zone started the active intermediate impulse wave (3).

EURNZD is likely to fall further toward the next support level 1.6700 (low of the previous minor impulse wave (1) from the start of April).

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