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NZDUSD Wave Analysis – 04 November, 2019

  • NZDUSD reversed from resistance zone
  • Likely to fall to 0.6350

NZDUSD recently reversed down from resistance area lying between the key resistance level 0.6440 (monthly high from September), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous downward impulse 1 from July.

The downward reversal from this resistance area stopped the earlier medium-term corrective wave 2.

NZDUSD is expected to fall further and retest the next support level – 0.6350 (low of the previous correction from the end of October).

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