NZDUSD Wave Analysis 29 September, 2020

• NZDUSD reversed from key support level 0.6500

• Likely to rise to 0.6625

NZDUSD recently reversed up from the key support level 0.6500 (which has been steadily reversing the price from July), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from the middle of May.

The upward reversal from the support level 0.6500 started the active short-term impulse wave 3.

Given the oversold daily Stochastic – NZDUSD is likely to rise to the next resistance level at 0.6625 (former support from the start of September).