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FxPro Forex Analysis: EURNZD Wave Analysis – 20 July , 2018

EURNZD reversed from resistance zone
• Likely to fall further

EURNZD recently reversed down from the resistance zone lying between the key resistance level 1.7300 (which has been reversing the price from May) and the upper daily Bollinger Band.

The downward reversal from this resistance zone continues the active short-term ABC correction (ii) from the end of June.

EURNZD is likely to fall further and re-test the next support level 1.7120 (low of the previous impulse wave i).

EURNZD - Primary Analysis - Jul-20 1651 PM (1 day)


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