- EURNZD broke support area
- Further losses are likely
EURNZD recently broke the support area lying between the key support level 1.6820 (which reversed the previous impulse 1), 100-day moving average and the 50% Fibonacci correction of the pervious upward impulse from March.
The breakout of this support area accelerated the active short-term impulse wave 3.
EURNZD is expected to fall further and retest the next support level 1.6700 (former support from April).