The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD reversed from resistance zone
2019-11-11 • Updated
- NZD/USD reversed from resistance zone
- Next sell target - 0.7200
NZD/USD recently reversed down from the resistance zone lying between the resistance level 0.7430 (top of the previous intermediate ABC correction (B) from the middle of September) and the upper daily Bollinger Band.
The latest downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Shooting Star. NZD/USD is expected to fall to the next sell target at the next support level 0.7200.
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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