• NZDUSD reversed from support area
• Further gains are likely
NZDUSD continues to rise after the recent upward reversal from the support area lying between the support level 0.6600 (which also reversed the price in January) and the lower daily Bollinger Band.
The upward reversal from this support area started the active short-term ABC correction (ii) – which belongs to the longer-term impulse waves 3 and (3).
NZDUSD is expected to rise further and re-test the next resistance level 0.6700 (former support from January).