EUR/NZD continues to display a impulsive pattern from the low at 1.6518. Short term, we are looking for more upside pressure towards at least 1.6891 and possibly even closer to 1.6972 to complete this first impulsive rally from 1.6518. This next rally should set the stage for a corrective decline towards at least 1.6800 and likely even closer to 1.6690 before turning higher again.
We are long EUR from 1.6670. We will raise our stop to 1.6735 and we will take half profit at 1.6875 and close our position at 1.6950.
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