Market Snapshots

NZDUSD Wave Analysis – 8 September, 2020

NZDUSD Wave Analysis – 8 September, 2020

• NZDUSD reversed from long-term resistance level 0.6750
• Likely to fall to 0.6600

NZDUSD recently reversed down with the daily Evening Star from the strong long-term resistance level 0.6750 (which stopped the sharp daily uptrend at the start of 2020).

The downward reversal form the resistance level 0.6750 stopped the earlier short-term impulse wave 3 from June.

Given the strength of the resistance level 0.6750 – NZDUSD is expected to fall further toward the next support level 0.6600.

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