EUR/NZD reached sell target 1.6400
- EUR/NZD reached sell target 1.6400
- Next sell target - 1.6120
EUR/NZD continues to fall after the earlier breakout of the support level 1.6400, which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 1.6400 is likely to accelerate the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the start of May – which started when the pair reversed down from the strong resistance zone surrounding the resistance level 1.6840.
EUR/NZD is likely to fall further in the active impulse waves 3 and (3) toward the next sell target at the support level 1.6120 (which stopped previous impulse waves (1) and B).