FX.co ★ Elliott wave analysis of EUR/NZD for April 23, 2018

We are looking for a more firm test of resistance at 1.7145 from where a correction closer to 1.6856 is expected. This corrective decline should completethe wave ii and set the stage for a new strong rally closer to 1.7479 and above.

R3: 1.7162

R2: 1.7145

R1: 1.7050

Pivot: 1.6990

S1: 1.6958

S2: 1.6900

S3: 1.6856

Trading recommendation:

We are looking for a selling opportunity at 1.7140.