NZDUSD Wave Analysis – 9 May, 2022

• NZDUSD broke key support level 0.6410
• Likely to fall to support level 0.6300

NZDUSD currency pair under the bearish pressure after the price broke the key support level 0.6410 (which reversed the price sharply at the start of this month).

The breakout of the support level 0.6410 accelerated the active impulse waves 3 and (3).

Given the clear daily downtrend – NZDUSD currency pair can be expected to fall further toward the next support level 0.6300 (target price for the completion of the active wave (3)).