Wave summary:
EUR/NZD is currently testing the "old" top at 1.6690, but it should just be a matter of time before a break above here is seen as a continuation higher to 1.6712 and 1.7038 as the next upside targets.
Support is now seen at 1.6563, which should be able to protect the downside for the next rally higher.
R3: 1.6763
R2: 1.6712
R1: 1.6690
Pivot: 1.6650
S1: 1.6627
S2: 1.6600
S3: 1.6563
Trading recommendation:
We are long EUR from 1.6365 and we will move our stop higher to 1.6550. If you are not long EUR yet, then buy near 1.6630 or upon a break above 1.6690 and use the same stop at 1.6650.
The material has been provided by InstaForex Company - www.instaforex.com