The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD broke support level 0.7080
2019-11-11 • Updated
- NZD/USD broke support level 0.7080
- Next sell target - 0.7000
NZD/USD recently broke the support level - 0.7080 (which reversed the price at the start of January, as can be seen below). The breakout of the support level follows the earlier breakout of the 50% Fibonacci correction of the sharp upward impulse from last November. NZD/USD is expected to fall toward the next sell target at next round support level 0.7000 (target price for the completion of the active impulse wave C).
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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