EUR/NZD traded within a very narrow 80 pips band yesterday. We continue to look for more upside towards 1.7820 on the way higher to 1.8369 and beyond.
Short-term support is seen at 1.7603 and again at 1.7538. Ideally support at 1.7603 will be able to protect the downside for the next rally higher towards the sub-target at 1.7820.
R3: 1.7820
R2: 1.7750
R1: 1.7714
Pivot: 1.7679
S1: 1.7647
S2: 1.7603
S3: 1.7538
Trading recommendation:
We are long EUR from 1.7330 with our stop placed at 1.7565. If you are not long EUR yet, then buy near 1.7603 and use the same stop at 1.7565.
The material has been provided by InstaForex Company - www.instaforex.com