NZDUSD Wave Analysis 24 September, 2020

• NZDUSD broke support zone

• Likely to fall to 1.9750

NZDUSD recently broke the support zone lying between the support level 0.6600 and the support trendline from the end of June.

The breakout of this support zone accelerated the active short-term ABC correction 4 from the start of September.

Given the strongly bullish USD sentiment – NZDUSD is expected to fall further toward the next support level 0.6490 (monthly low from August and the likely price for the completion of the active wave 4).