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EUR/NZD broke key resistance level 1.6200

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  • EUR/NZD broke key resistance level 1.6200
  • Next buy target - 1.6600

EUR/NZD continues to rise after the earlier breakout of the key resistance level 1.6200, which reversed the previous waves A and (iii) and which was set as the buy target in our earlier forecast for this currency pair. The breakout of the resistance level 1.6200 greatly accelerated the active minor impulse wave (v) – which belongs to the wave C from the end of June. EUR/NZD is expected to rise to next buy target at the next resistance level 1.6600 (target price for the termination of the active impulse C).

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