Wave summary:
EUR/NZD continues to rally as expected and has now broken above the form top at 1.7216 as the rally higher towards the next target seen at 1.7770 continues.
Support is now seen at 1.7201 and again at 1.7121. The latter will ideally protect the downside for the expected rally higher towards 1.7770.
R3: 1.7665
R2: 1.7494
R1: 1.73333
Pivot: 1.7200
S1: 1.7121
S2: 1.7175
S3: 1.7059
Trading recommendation:
We are long EUR from 1.6770 and will move our stop higher to 1.7025.
The material has been provided by InstaForex Company - www.instaforex.com