EURNZD currency pair recently reversed up from the support zone located between the key support level 1.67600 (low of the pervious daily Bullish Engulfing from the end of January) – standing near the lower daily Bollinger Band. The upward reversal from this support zone stopped the previous nested impulse wave (iii), 3 and (3). Given the strength of the aforementioned support zone and the bullish divergence on the daily Stochastic indicator – EURNZD currency pair can be expected to rise further toward the next round resistance level 1.70450.