Source: Forex Analysis
EUR/NZD continues to move higher as expected, but we would like to see some upside acceleration soon and a break above the minor resistance at 1.6999, and more importantly, a break above the resistance at 1.7094 that confirms our expectation of a continuation higher to 1.7470 and 1.7777.
Support is now seen at 1.6867. This support will ideally protect the downside for a continuation higher to 1.6999 and above.
We are long EUR from 1.6790 and we will move our stop to break-even at 1.6790.
The material has been provided by InstaForex Company – www.instaforex.com