EURNZD Wave Analysis – 18 April 2025

EURNZD: ⬆️ Buy

– EURNZD reversed from support level 1.9100

– Likely to rise to resistance level 1.9400

EURNZD currency pair recently reversed up from the pivotal support level 1.9100 (former strong resistance from March) standing close to the 20-day moving average and the 50% Fibonacci correction of the upward impulse from February.

The upward reversal from the support level 1.9100 created the daily Japanese candlesticks reversal pattern Bullish Engulfing.

Given the clear daily uptrend, EURNZD currency pair can be expected to rise to the next resistance level 1.9400.

Source: https://fxpro.news