NZD/USD broke major support level 0.6900

NZD/USD broke major support level 0.6900

  • NZD/USD broke major support level 0.6900
  • Next sell target - 0.6750

NZD/USD continues to decline after the earlier breakout of the major support level 0.6900 (which has reversed multiple downward waves from last December, as can be seen from the daily NZD/USD chart below). The breakout of the support level 0.6900 accelerated the active impulse wave (iii) of impulse 3 from March – which itself belongs to the sharp intermediate (C)-wave from February.

NZD/USD is expected to fall to the next sell target at the next support level 0.6750 (target price for the completion of the active minor impulse wave 3.).

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