NZDUSD Wave Analysis – 07 November , 2018 – November 07, 2018
November 07, 2018 @ 16:44 UTC
- NZDUSD broke resistance zone
- Further gains are likely
NZDUSD continues to rise after the earlier breakout of the resistance zone located between the key resistance level 0.6700 (top of wave 4 from September) and the 61.8% Fibonacci correction of the previous downward impulse from July.
The breakout of this resistance zone accelerated the active impulse wave (C). This price zone is acting as a strong support zone after it was broken.