EUR/NZD is likely building a bottom near 1.6800 for a corrective rally towards at least 1.7225 and likely even closer to 1.7359.
In the short term, we need a break above minor resistance at 1.6912 to confirm that wave i/ or a/ has completed and a correction in wave ii/ or b/ is developing towards at least 1.7225 and as said possibly even closer to 1.7359.
R3: 1.7074
R2: 1.6997
R1: 1.6912
Pivot: 1.6858
S1: 1.6807
S2: 1.6784
S3: 1.6733
Trading recommendation:
We will buy EUR upon a break above 1.6912
The material has been provided by InstaForex Company - www.instaforex.com