NZDUSD Wave Analysis – 1 October, 2019

• NZDUSD broke support zone
• Likely to fall to 0.6150

NZDUSD today broke sharply through the support area lying between the support level 0.6270 and the support trendline of the wide daily down channel from March.

The breakout of this support area accelerated the active impulse wave 3 – which belongs to the intermediate impulse wave (C) from July.

NZDUSD is expected to fall further and retest the next support level 0.6150 (target price for the completion of the active impulse wave 3).