NZDUSD Wave Analysis – 18 March, 2020
March 18, 2020 @ 16:57 +03:00
- NZDUSD broke round support level 0.6000
- Likely to fall to 0.5800
NZDUSD recently broke sharply below the round support level 0.6000 (which previously reversed the price with the daily candlestick pattern Long-legged Doji at the start of March).
The breakout of the support level 0.6000 coincided with the breakout of lower support trendline of the daily down channel from January – which accelerated the active waves 3 and (5)..
NZDUSD is likely to fall further toward the next support level 0,5800 (forecast price for the completion of the active short-term impulse wave 3).