EURNZD recently reversed down from the resistance area lying between the resistance level 1.68200 (former strong support level from December), lower trendline of the recently broken wide up channel from March (acting as resistance after it was broken) and the 61.8% Fibonacci correction of the previous sharp downward impulse wave 5 from December. With the rising bearish Euro sentiment seen across the markets today, EURNZD is likely to fall further toward the next powerful support level 1.66400 (low of the previous intermediate impulse wave (C) from the end of last year).