NZDUSD Wave Analysis – 03 March, 2020

• NZDUSD reversed from support zone
• Likely to rise to 0.6330

NZDUSD recently reversed up from support zone area lying between the multi-month support 0.6210 (which stopped the sharp downtrend in October) and the lower daily Bollinger Band.

The upward reversal from this support zone started the active short-term correction (ii).

NZDUSD is likely to rise further toward the next resistance level 0.6330 (former monthly low from November and October).