Elliott wave analysis of EUR/NZD for August 10, 2018
After some sideways consolidation between 1.7352 – 1.7448 more upside will be expected towards the next minor upside targets at 1.7924 on the way higher towards 1.8369 and 1.8423.
Support is now seen at 1.7404 and again at 1.7352. Ideally the later will be able to protect the downside for a clear break above 1.7480 confirming the next part of the uptrend towards 1.7924.
Only a break below support at 1.7301 will question the expected rally higher.
We are long EUR from 1.7226 and we will raise our stop to 1.7275.