NZD/USD: entering the six-year resistance zone
The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD reached buy target 0.7200
2019-11-11 • Updated
- NZD/USD reached buy target 0.7200
- Next buy target - 0.7250
NZD/USD continues to rise after the earlier breakout of the resistance level 0.7200 (which was set as the buy target in our previous forecast for this currency pair). The breakout of the resistance level 0.71200 follows the earlier breakout of 61.8% Fibonacci correction level of the previous sharp downward impulse wave (C) from the start of February – which accelerated the active impulse waves 3 and (3). NZD/USD is expected to rise to the next buy target at the next resistance level 0.7250 (target price for the termination of the active impulse (3)).
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