EURNZD Wave Analysis – 15 July, 2019

• EURNZD broke support area
• Further losses are likely

EURNZD recently broke the support area lying between the key support level 1.6820 (which reversed the previous impulse 1), 100-day moving average and the 50% Fibonacci correction of the pervious upward impulse from March.

The breakout of this support area accelerated the active short-term impulse wave 3.

EURNZD is expected to fall further and retest the next support level 1.6700 (former support from April).