• NZDUSD reversed from support level 0.6700
• Likely to rise to resistance level 0.6800
NZDUSD recently reversed up from the key support level 0.6700 (previous monthly low from December), strengthened by the lower daily Bollinger Band.
The upward reversal from the support level 0.6700 stopped the previous sharp downward impulse wave 3 and (C).
Given the strength of the support level 0.6700 – NZDUSD can be expected to rise further toward the next resistance level 0.6800.
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