The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD reversed from major support level 0.7200
2019-11-11 • Updated
- NZD/USD reversed from major support level 0.7200
- Next buy target - 0.7300
NZD/USD today reversed up from the major support level 0.7200 (which has been steadily reversing the pair from the middle of June, as can be seen from the daily NZD/USD chart below). The support zone near the support level 0.7200 was strengthened by the lower daily Bollinger Band. The upward reversal from the support level 0.7200 started the active minor impulse wave 3. NZD/USD is expected to rise to the next buy target at the next resistance level 0.7300.
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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