EURNZD is dropping in an impulsive manner from the 1.727 region, where a higher degree wave 2 correction had found resistance. We are specifically tracking sub-wave iii of 3, which can be near completion, and can look for support, and a turn into a corrective wave iv near the 1.695 zone. Wave iv correction can take price temporarily higher, towards potential resistance zone around 1.702/1.705 region, from where final bearish leg as wave v may resume.

EURNZD, 1h

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