Wave summary:
EUR/NZD has rallied nicely and more upside pressure is expected through resistance seen at 1.7107 for a retest of the 1.7479 high on the way towards 1.7770.
Support is now seen at 1.6943 and should ideally protect the downside for the expected rally higher, but even if this support is broken, then back-up support is seen at 1.6883.
R3: 1.7265
R2: 1.7167
R1: 1.7107
Pivot: 1.6943
S1: 1.6883
S2: 1.6802
S3: 1.6744
Trading recommendation:
We are long EUR from 1.6873 and we will move our stop higher to 1.6795.
