Wave summary:
EUR/NZD is now testing the channel resistance-line near 1.7040, which could cap the upside for the short-term and cause a new minor correction close to 1.6784 before the next strong rally should be expected for a clear break above the channel resistance-line this time and a continuation higher to 1.7777.
Short-term a break below minor support at 1.6958 will confirm more downside pressure to 1.6784 before up again.
R3: 1.7273
R2: 1.7118
R1: 1.7083
Pivot: 1.6958
S1: 1.6913
S2: 1.6784
S3: 1.6690
Trading recommendation:
We are long EUR from 1.6840 and will move our stop higher to 1.6950.