EUR/NZD is currently testing the previous high at 1.7216. This resistance will likely be able to cap the upside shortly, but it should just be a matter of time before this resistance is broken for a continuation higher towards 1.7770 as the next upside target.
Short-term support is seen at 1.1714 and again at 1.7085. The later is expected to protect the downside of the break above 1.7216.
We are long EUR from 1.6770 with stop placed at 1.6900.
The material has been provided by InstaForex Company – www.instaforex.com