NZD/USD reversed from resistance zone

NZD/USD reversed from resistance zone

  • 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.

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