EUR/NZD reversed from key support level 1.7160

EUR/NZD reversed from key support level 1.7160

  • EUR/NZD reversed from key support level 1.7160
  • Next buy target - 1.7400

EUR/NZD today reversed up from the key support level 1.7160 (former strong resistance level from October – acting as support after it was broken previously). The upward reversal from the support level 1.7160 continues the active minor impulse wave 3 – which belongs to the intermediate upward impulse wave (3) from June. EUR/NZD is expected to rise toward the next buy target at the next resistance level 1.7400 (top of the previous impulse wave (i)).



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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