NZDUSD: ⬆️ Buy
- NZDUSD reversed from support zone
- Likely to rise to resistance level 0.5980
NZDUSD currency pair recently reversed from the support zone between the strong support level 0.582 (former strong resistance from March and April), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from April.
The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star – which started the active impulse wave (1).
Given the bearish US dollar sentiment seen across the FX markets today, NZDUSD currency pair can be expected to rise to the next resistance level 0.5980 (target price for the completion of the active impulse wave 1).
, lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from April.){kind=link}