FX.co ★ Elliott wave analysis of EUR/NZD for November 25 - 2014

Today's support and resistance levels:

R3: 1.6048

R2: 1.5990

R1: 1.5963

Current spot: 1.5920

S1: 1.5907

S2: 1.5878

S3: 1.5849

Technical summary:

Quite unpredictable moves are still going on. The rally from the 1.5644 low has been very strong, but we think that a top is close at hand and a correction towards at least 1.5849 and possibly even lower to 1.5805 soon will be seen. Once this correction is over, we should see a new powerful rally higher towards 1.6273 as the next strong resistance level that needs to be conquered to confirm the rally towards 1.6446 and higher towards 1.6800.

Trading recommendation:

We will be looking for a buying opportunity next to 1.5805.