• EURNZD broke resistance area
• Likely to rise further
EURNZD recently broke through the resistance area lying between the resistance level 1.6960 (former support from May) and the 61.8% Fibonacci correction of the previous short-term ABC correction 2 from the middle of May.
The breakup of this resistance area strengthened the active impulse wave 3 which belongs to the medium-term impulse wave (3) from January.
EURNZD is likely to rise further and re-test the next resistance level 1.7300 (top of the previous impulse wave 1 from the middle of May).