EUR/NZD approached sell target 1.5200
- EUR/NZD approached sell target 1.5200
- Next sell target - 1.5000
EUR/NZD continues to fall inside the minor impulse wave (v), which is a part of impulse 3 of the intermediate downward impulse wave (3) from the start of May. The pair earlier reversed down from the resistance zone located between the resistance level 1.5600 and the 38.2% Fibonacci correction of the earlier sharp downward impulse from June. The downward reversal from this resistance zone started the active minor impulse wave (v).
EUR/NZD is currently approaching the support level 1.5200 (previous sell target set for this currency pair). If the price breaks below 1.5200 - EUR/NZD can then fall further to the next sell target at 1.5000.