The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD reversed from support area
2019-11-11 • Updated
- NZD/USD reversed from support area
- Next buy target - 0.7350
NZD/USD recently reversed up from the support area lying between the pivotal support level 0.7180 (which reversed the previous waves 4 and A, as can be seen below), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from last November. NZD/USD is expected to rise further toward the next buy target at next resistance level 0.7350 (top of the previous wave B).
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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