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 - 0.7180
NZD/USD today reversed up from the support area lying between the lower daily Bollinger Band, 61.8% Fibonacci correction of the upward impulse (1) from November and the strong round support level 0.70000 (former resistance level from December). Given the oversold daily Stochastic - NZD/USD is expected to rise toward the next buy target at next resistance level 0.7180.
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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