Wave summary:
EUR/NZD spiked higher to 1.6965 before tuning lower again. The failure to sustain the break above 1.6955 calls for more downside pressure towards 1.6720 before a low likely is in place. Short-term minor resistance is seen at 1.6873 and a break above here will be the first warning that a low has been found.
R3: 1.6965
R2: 1.6873
R1: 1.6836
Pivot: 1.6820
S1: 1.6751
S2: 1.6720
S3: 1.6695
Trading recommendation:
Our stop at 1.6955 was hit for a nice profit of 245 pips. We will be looking for a new buying opportunity and will buy a break above 1.6873.
