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Wave Tech Analysis

FxPro Forex Analysis: EURNZD Wave Analysis – June 27, 2018

EURNZD broke resistance area
• Likely to rise further

EURNZD recently broke through the resistance area lying between the resistance level 1.6960 (former support from May) and the 61.8% Fibonacci correction of the previous short-term ABC correction 2 from the middle of May.

The breakup of this resistance area strengthened the active impulse wave 3 which belongs to the medium-term impulse wave (3) from January.

EURNZD is likely to rise further and re-test the next resistance level 1.7300 (top of the previous impulse wave 1 from the middle of May).

EURNZD - Primary Analysis - Jun-27 1551 PM (1 day)