EUR/NZD approaching support level 1.5220
- EUR/NZD approaching support level 1.5220
- Next sell target - 1.5100
EUR/NZD has been falling sharply in the last few trading sessions – following the earlier breakout of the support level 1.5400 (which was set as the sell target in our previous forecast for this currency pair). The breakout of the support level 1.5400 accelerated the active impulse wave 3 – which belongs to the intermediate impulse wave (3) from July (which started when the pair reversed down from the major pivotal resistance level 1.5850, former powerful support from December).
EUR/NZD is approaching the support level 1.5220 (low of impulse wave 1). If the price breaks below 1.5220 - the pair can then fall to the next sell target at 1.5100 (low of impulse (1)).