Wave summary:
EUR/NZD continues to rally nicely and broke clearly above minor resistance at 1.5996 as expected to confirm more upside pressure towards 1.6236 and above.
Support is now seen at 1.6005, which ideally will protect the downside for the rally higher, but only a break below support at 1.5832 will invalidate the bullish outlook.
R3: 1.6236
R2: 1.6198
R1: 1.6081
Pivot: 1.6000
S1: 1.5996
S2: 1.5959
S3: 1.5821
Trading recommendation:
We are long EUR from 1.5510 and will move our stop higher to 1.5825. If you are not long EUR yet, then buy near 1.5996 and use the same stop at 1.5825.
