EURNZD Wave Analysis 19 November, 2020

• EURNZD reversed from key support level 1.7090

• Likely to rise to 1.7400

EURNZD today reversed up from the key support level 1.7090 (which stopped the previous sharp impulse wave 1 earlier this month) – standing near the lower daily Bollinger Band.

The upward reversal from the support level 1.7090 stopped the previous different-size impulse waves 3 and (3).

With the daily Stochastic still in the oversold territory – EURNZD is likely to rise further toward the next resistance level 1.7400 (which reversed the previous correction 2).