EUR/NZD: buy targets - 1.6200 and 1.6400
By: Dima Chernovolov
- EUR/NZD reached buy target 1.6000
- Next buy targets - 1.6200 and 1.6400
EUR/NZD continues to rise after recently breaking above the round resistance level 1.6000 – which was set as the buy target in our previous forecast for this currency pair. The breakout of this resistance level is likely to strengthen the bullish pressure on EUR/NZD in the coming trading sessions.
With the accelerating daily Momentum (as you can see from the daily EUR/NZD chart below) - EUR/NZD can be expected to rise further inside the active C-wave (of the intermediate ABC correction (2) from April) toward the next buy targets at 1.6200 and 1.6400.