EUR/NZD broke support area

EUR/NZD broke support area

2019-11-11 • Updated

  • EUR/NZD broke support area
  • Next sell target - 1.6620

EUR/NZD continues to fall after the earlier breakout of the combined support area lying between the long-term support level 1.6920, 50-day moving average, support trendline of the daily up channel from September and the 61.8% Fibonacci correction of the previous sharp upward impulse wave (i). EUR/NZD is expected to fall further toward the next sell target at the next support level 1.6620 (low of the previous correction (ii)).

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