EUR/NZD: buy target – 1.6800
By: Dmitriy Chernovolov
- EUR/NZD reached buy target 1.6600
- Next buy target – 1.6800
EUR/NZD has been rising steadily in the last few trading days inside the minor impulse waves (iii) and 3 (as can be seen from the daily EUR/NZD chart below) – recently reaching the resistance level 1.6600 – top of previous impulse (i), which was set as the buy target in our previous forecast for this currency pair.
After reaching the resistance level 1.6600, EUR/NZD corrected down shortly– after which it resumed the upward movement and is approaching this price level at the time of the writing. If the price breaks above 1.6600, EUR/NZD can then rise to the next buy target 1.6800.