FX.co ★ Elliott wave analysis of EUR/NZD for April 9, 2018

With a nice little spike to 1.6910, we will be looking for renewed downside pressure towards 1.6722 as the next minor downside target. After a minor consolidation, more downside pressure towards 1.6620 remains expected.

Ideally, resistance at 1.6910 should be able to cap the upside for now.

R3: 1.6958

R2: 1.6910

R1: 1.6886

Pivot: 1.6831

S1: 1.6797

S2: 1.6722

S3: 1.6650

Trading recommendation:

We sold EUR at 1.6900 and have placed our stop at 1.6925.