Technical analysis

EURNZD Wave Analysis – 21 June, 2019

EURNZD Wave Analysis – 21 June, 2019
  • EURNZD reversed from support area
  • Further gains are likely

EURNZD recently reversed up from the support area lying between the support level 1.7140 (former reinstate from May) and the 38.2% Fibonacci correction of the previous upward impulse from the start of June.

The upward reversal from this support area is aligned with the active medium-term upward trend from the end of March.

EURNZD is expected to rise further and retest the next resistance level 1.7330 (multi-month high from January).


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