Not much to add here. EUR/NZD is trying to bottom in wave ii/, but a break above minor resistance at 1.5564 remains needed to confirm that wave ii/ has completed and wave iii/ higher to above 1.6237 is developing.
As long as resistance at 1.5564 is able to cap the upside, we will need to allow for a slightly new low, but the downside potential should remain limited.
We are long EUR from 1.5446 with stop placed at 1.5246. If you are not long EUR yet, then buy a break above 1.5564 and start by using the same stop.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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