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 broke long-term support level 0.6840
2019-11-11 • Updated
- NZD/USD broke long-term support level 0.6840
- Next sell target - 0.6670
NZD/USD recently broke through the long-term support level 0.6840 (which has been steadily reversing the price from the end of 2016, as can be seen from the daily NZD/USD chart below). The breakout of this support level accelerated the active minor impulse wave 3. NZD/USD is expected to fall in the active impulse wave (C) toward the next sell target at the next support level 0.6670 (former support from May of 2016).
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