Elliott wave analysis of EUR/NZD for November 23, 2016

Wave summary: EUR/NZD continue to work its way lower towards 1.4985. From here or upon a direct break above resistance at 1.5168 a new impulsive rally towards 1.5618 is expected. A firm break above 1.5078 will be the first indication that the corrective decline from 1.5266 is complete and the new impulsive rally is unfolding. […]