NZD/USD reversed from support area

NZD/USD reversed from support area

  • NZD/USD reversed from support area
  • Next buy target - 0.6950

NZD/USD recently reversed up sharply from the support area lying between the key support level 0.6820 (which has been reversing the price from the end of October) and lower daily Bollinger Band. The upward reversal from this support area stopped the previous minor impulse wave 5. If the pair closes today near the current levels it will form the daily Morning Star. NZD/USD is expected to rise to the next buy target at the next resistance level 0.6950.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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