Wave summary:
EUR/NZD is now trading just above its 1.6720 targets, which is expected to mark the low for wave (iv) and set the stage for a strong rally in wave (v) towards 1.7770. Short-term a break above minor resistance at 1.6873 will indicate that wave (iv) has completed, while a break above resistance at 1.6965 will confirm that wave (iv) has completed and wave (v) higher is developing.
R3: 1.6965
R2: 1.6918
R1: 1.6873
Pivot: 1.6836
S1: 1.6757
S2: 1.6720
R3: 1.6695
Trading recommendation:
We will buy EUR at 1.6735 or upon a break above 1.6873.
