EUR/NZD: wave 5 underway

EUR/NZD has started to rise after pulling back to the multi-month support line at 1.5580. This may mark the end of wave 4 and could be the start of the 5th wave, which could eventually retouch the September highs. It is still a little early to say but a move above the 1.5760 would provide strong confirmation that wave 5 was in progress with an eventual target at or near the 1.5905 highs.

Written by Forex4you