EURNZD recently reversed up from the combined support area lying between the key support level 1.73200 (which has been reversing the price from the end of September, as can be seen below), lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse from September. Given the moderate bearish sentiment affecting the New Zealand dollar at the moment – EURNZD is likely to remain under bullish pressure and to rise toward the next resistance level 1.75000 (top of the previous Evening Star from the end of October).