Wave summary:
EUR/NZD remain locked inside the 1.5500 - 1.5710 range and only a clear break out of this range will call for the next larger move. We continue to prefer a break towards the upside for a rally higher towards 1.6232 and above.
R3: 1.5931
R2: 1.5801
R1: 1.5710
Pivot: 1.5605
S1: 1.5500
S2: 1.5450
S3: 1.5400
Trading recommendation:
We are long EUR from 1.5645 with stop placed at 1.5210. If you are not long EUR yet, then buy a break above 1.5710 and place a stop at 1.5450.
