NZDUSD Analysis 05 November, 2020

• NZDUSD broke resistance level 0.6710

• Likely to rise to 0.6800                                                                                          

NZDUSD recently broke above the resistance level 0.6710 (top of the previous minor impulse wave 1 and of the Bearish Engulfing from last month).

The breakout of the resistance level 0.6710 is expected to accelerate the active short-term impulse waves (3) and 3.

NZDUSD is likely to rise further toward the next resistance level 0.6800 (top of the daily Shooting Star from September and the target for the completion of the active impulse wave 3).