Wave summary:
There was no time for a correction to 1.6614. EUR/NZD moved straightly higher as wave iii of (iii) of 3 is gathering traction towards the next upside target at 1.7770 and 1.8430 longer terms.
Support is now seen at 1.6855, this support will ideally protect the downside for the rally through 1.7216 on the way higher to 1.7770.
R3: 1.7216
R2: 1.7119
R1: 1.7059
Pivot: 1.6855
S1: 1.6781
S2: 1.6678
S3: 1.6614
Trading recommendation:
We are long EUR from 1.6770. We will move our stop higher to 1.6750.
