• EURNZD reversed from support area
• Likely to rise to resistance level 1.7000

EURNZD currency pair today reversed up with the daily Japanese candlesticks reversal pattern Bullish Engulfing from the support area lying between the key support level 1.6675 (which has been reversing the pair from the start of April) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous minor ABC correction 2.

Given the strength of the aforementioned support area – EURNZD currency pair can be expected to rise further in the active impulse wave 3 toward the next round resistance level 1.7000 (which stopped the previous impulse waves (1) and 1).