NZD/USD broke resistance zone

NZD/USD broke resistance zone

  • NZD/USD broke resistance zone
  • Next buy target - 0.7200

NZD/USD has been rising in the last few trading sessions after the earlier breakout of the resistance zone lying between the powerful resistance level 0.7050 (former support level from October) and the 38.2% Fibonacci correction of the previous downward impulse from September. The breakout of this resistance zone accelerated the active impulse waves 3 and (3). NZD/USD is rise further toward the next buy target at the resistance level 0.7200 (target for completion of wave (3)).




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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