EUR/NZD: buy target - 1.6600
By: Dima Chernovolov
- EUR/NZD reached buy targets 1.6200 and 1.6400
- Next buy target - 1.6600
EUR/NZD recently corrected down after the price reached both of the buy targets set in our previous forecast for this currency pair - 1.6200 and 1.6400. The price corrected down to the support zone lying between the round support level 1.6000 and the 61.8% Fibonacci Correction of the previous upward impulse from the start of June. The pair subsequently reversed up sharply from this support zone and continues to rise at the moment.
EUR/NZD is likely to rise further inside the active minor impulse wave 3 toward the next buy target 1.6600 (which stopped the earlier impulse (i)).