– NZDUSD under bearish pressure
– Likely to fall support level 0.5600
NZDUSD currency pair is under bearish pressure after the earlier breakout of the support trendline of the daily up channel from the start of February.
The breakout of this up channel continues the active impulse wave 3, which started earlier from the key resistance level 0.5760 (former support from December), intersecting with the aforementioned up channel.
NZDUSD currency pair can be expected to fall to the next support level 0.5600, a low of the previous minor correction b.
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