EUR/NZD broke below support at 1.7393 telling us that the corrective decline from 1.7921 is still evolving and should move closer to support in the 1.7290 - 1.7300 area before completing red wave ii/.
Resistance is now seen near 1.7400 and then at 1.7457. The later should be able to cap the upside for the expected dip closer to 1.7300.
R3: 1.7515
R2: 1.7483
R1: 1.7457
Pivot: 1.7406
S1: 1.7357
S2: 1.7325
S3: 1.7300
Trading recommendation:
Ous stop at 1.7385 was hit. We will stay on the sideline for now.
