The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD broke resistance zone
2019-11-11 • Updated
- NZD/USD broke resistance zone
- Next buy target - 0.7430
NZD/USD continues to rise inside the intermediate impulse wave (3) which previously broke though the resistance zone lying between the key resistance level 0.7200 (former monthly high from October) and the 61.8% Fibonacci correction of the previous sharp downward impulse from the middle of September. NZD/USD is expected to rise further toward the next buy target at the next resistance level 0.7430 (high of the previous minor correction 2 from September).
The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
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