FX.co ★ Elliott wave analysis of EUR/NZD for February 2, 2018

Wave summary:

The EUR/NZD pair continue to follow the expected path, and a break above minor resistance at 1.6973 will confirm more upside pressure towards 1.7360 on the way higher to 1.7479 and 1.7777, which is our long-term target.

Short-term support is now seen at 1.6926 and at 1.6890 again, which should be able to protect the downside.

R3: 1.7064

R2: 1.7013

R1: 1.6973

Pivot: 1.6936

S1: 1.6890

S2: 1.6866

S3: 1.6827

Trading recommendation:

We are long EUR from 1.6695 and will move our stop higher to 1.6750.