Market Snapshots

NZDUSD Wave Analysis – 8 June, 2020

• NZDUSD broke resistance area

• Likely to rise to 0.6640

NZDUSD recently broke the resistance area lying between the resistance levels 0.6450 (monthly high from March) and 0.6490 (monthly high from February).

The breakout of this resistance area accelerated the active short-term impulse sequence (c) from the middle of May.

NZDUSD is likely to rise further toward the next resistance level 0.6640 (target price for the completion of the active impulse wave (c)).

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