EUR/NZD: buy target - 1.8270
By: Dmitriy Chernovolov
- EUR/NZD broke sideways price range
- Next buy target - 1.8270
EUR/NZD recently rose above the resistance level 1.7850 (which is the upper boundary of the sideways price range inside which the pair has been trading from the end of August, as you can see below). The lower boundary of this price range stands at the support level 1.7330. The breakout of this price range continues the active minor correction 2, which started earlier in August – when the pair reversed up from the lower boundary of this price range with the daily Morning Star.
EUR/NZD is likely to rise further toward the next buy target at 1.8270 (target price calculated for the completion of the active wave 2).