NZDUSD Wave Analysis

  • NZDUSD reversed from key resistance level 0.6200
  • Likely to fall to support level 0.6100

NZDUSD currency pair recently reversed down from the key resistance level 0.6200 (which has been reversing the price from February).

The resistance level 0.6200 was strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the previous downward impulse 1 from December.

Given the strength of the resistance level 0.6200, NZDUSD currency pair can be expected to fall further to the next support level 0.6100, low of the previous minor correction iv.

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