EURNZD recently reversed up from the support area lying between the key support level 1.7045 (former monthly high from July), lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse from July. The upward reversal from this support area started the active impulse wave (iii). With the moderate Euro bullishness seen across the markets and the rising bearish New Zealand Dollar sentiment, EURNZD is likely to extend the gains and retest the next powerful resistance level 1.7560 (which reversed the price multiple times in the middle of August). Expect sharp downward correction when the pair reaches the resistance level 1.7560.