Technical analysis

EURNZD Wave Analysis – 2 September, 2021

• EURNZD falling inside minor wave (ii)

• Likely to reach support level 1.6640

EURNZD currency pair continues to fall inside the minor correction (ii), which started earlier from the resistance level 1,7100 (upper boundary of the sideways price range form April)

The active wave (ii) belongs to the higher-order upward impulse wave C from the start of August.

EURNZD can be expected to fall further toward the next support level 1.6640 (lower boundary of this price range). Expect upward correctioon from this level.

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