Wave summary:
EUR/NZD is working its way higher and it should be a matter of time before resistance at 1.7064 is tested and broken for a continuation higher to 1.7479 and 1.7777.
Support is now seen at 1.6937 and should be able to protect the downside, but only a break below 1.6855 will question the expected rally higher.
R3: 1.7220
R2: 1.7130
R1: 1.7064
Pivot: 1.6952
S1: 1.6937
S2: 1.6855
S3: 1.6831
Trading recommendation:
We are long on EUR from 1.6873 and we will move our stop higher to 1.6850.
The material has been provided by InstaForex Company - www.instaforex.com