Wave summary:
EUR/NZD should soon take out the "old" top at 1.6690 for a continuation higher towards 1.6712 and after a minor consolidation, a continuation higher to 1.7038 should be expected. Support is now seen at 1.6561, which ideally will protect the downside for the rally to 1.6712. Should a break below 1.6561 be seen, that will extend the correction lower to support at 1.6487 before moving higher again.
R3: 1.6763
R2: 1.6712
R1: 1.6690
Pivot: 1.6650
S1: 1.6627
S2: 1.6561
S3: 1.6487
Trading recommendation:
We are long EUR from 1.6365 and will move our stop higher to 1.6465. If you are not long EUR yet, then buy near 1.6561 and use the same stop at 1.6465.
