NZDUSD Wave Analysis – 11 December , 2018

• NZDUSD reversed from key support level 0.6800 • Further gains are likely

NZDUSD recently reversed up from the key support level 0.6800 (former strong resistance from July and November – acting as support after it was broken by the previous upward impulse 1).

The upward reversal from this support level started the active short–term impulse wave 3 – which belongs to the medium-term impulse wave (C) from the end of November.

NZDUSD is expected to rise further and re-test the next resistance level 0.6960 (top of the previous impulse wave 1).