EUR/NZD is now breaking above minor resistance at 134.10 and a clear break above resistance at 1.6451 too, will add upside acceleration for a continuation to 1.6690 and 1.6875 as the next upside targets.
Short-term, minor support at 1.6410 ideally will be able to protect the downside, but only a break below support at 1.6344 will delay the expected rally, but the potential downside, seems very limited from here.
We are long EUR from 1.6365 with stop placed at 1.6250. If you are not long EUR yet, then buy near 1.6410 or upon a break above 1.6451 and place your stop at 1.6325.
The material has been provided by InstaForex Company – www.instaforex.com