Wave summary:
EUR/NZD likely bottomed with the test of 1.6800 and we are now looking for a break above minor resistance at 1.6876 and more importantly a break above resistance at 1.6927 to confirm wave ii has completed and wave iii is developing for a rally towards 1.7777.
At no point can a break below important support at 1.6744 be allowed under this count.
R3: 1.7064
R2: 1.6993
R1: 1.6927
Pivot: 1.6876
S1: 1.6800
S2: 1.6780
S3: 1.6744
Trading recommendation:
We are long EUR from 1.6873 with stop placed at 1.6795.
