The NZDUSD pair could be dropping into its last leg for now and find support around 0.6685/95 levels, before turning bullish again. Please note that 0.6687 levels is also the fibonacci 0.618 support of the recent upswing between 0.6585 and 0.6848 levels respectively. Looking at the higher degree wave counts, the NZDUSD seems to be unfolding potential wave 3 or C from 0.6585 levels, and ideally it should produce a 5 wave rally leading towards 0.7100/200 levels at least. Kindly note that an interim price support remains at 0.6585 levels and till prices remain above that, bulls should remain in control. If the above counts hold true, we could witness a potential bullish reversal from around 0.6685/90 levels, and push higher above 0.7100 levels respectively.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.