NZDUSD Wave Analysis – 17 September, 2019

• NZDUSD reversed from resistance zone
• Further losses are likely

NZDUSD recently reversed down from the resistance zone lying between the resistance level 0.6430 (former strong support from October of 2018), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous downward impulse 1 from July.

The downward reversal from this resistance zone started the active short-term impulse wave 3.

NZDUSD is expected to fall further and retest the next strong support level 0.6270 (low of the previous impulse wave 1).