EUR/NZD reversed from resistance zone

EUR/NZD reversed from resistance zone

  • EUR/NZD reversed from resistance zone
  • Next sell target - 1.6600

EUR/NZD recently reversed down from the resistance zone lying between the recently broken former support trendline of the daily up channel from January (acting as resistance after it was broken recently) and the 100-day moving average.  The downward reversal from this resistance zone accelerated the active minor impulse wave (c). EUR/NZD is expected to fall toward the next sell target at the next support level 1.6600 (low of wave 2 from January).

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