• EURNZD broke resistance zone
• Likely to rise to resistance level 1.6530
EURNZD currency pair continues to fall after the earlier breakout of the resistance zone lying between the key resistance level 1.6335 (which stopped the previous minor correction (iv) at the middle of November) and the 38.2% Fibonacci correction of the downward price impulse wave from the start of September. The breakout of this resistance zone accelerated the active corrective wave 2.
Given the strongly bearish NZD sentiment seen across the FX markets today, EURNZD currency pair can be expected to rise further in the active wave 2 toward the next resistance level 1.6530 (former monthly low from September).
