NZD/USD: entering the six-year resistance zone
The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
NZD/USD rising inside intermediate impulse wave (3)
2019-11-11 • Updated
- NZD/USD rising inside intermediate impulse wave (3)
- Next buy targets - 0.7310 and 0.7370
NZD/USD has been rising in the last few trading sessions inside the intermediate impulse wave (3) – which started earlier from the support area lying between the pivotal support level 80.50 and the 50% Fibonacci correction of the previous sharp upward impulse from the start of June. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing. NZD/USD is expected to rise to the next buy targets at the resistance levels 0.7310 (top of impulse wave (1)) and 0.7370 (major resistance level from February).
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