The EURNZD pair is moving within an ascending channel showing strong bullish momentum as each wave forms higher highs and higher lows. The structure highlights an Elliott wave pattern where the market completed a corrective phase and started a fresh impulsive move. The recent breakout from the ascending triangle confirms the strength of buyers suggesting continuation toward the upper boundary of the channel. Wave four acted as a retest area providing strong support for the next bullish leg. As long as price holds above this support zone the pair is expected to extend higher completing the fifth wave within the current upward structure which aligns with the broader bullish trend.