• NZDUSD reversed from support level 0.7100
• Likely to rise to 0.7250
NZDUSD today reversed up from the key support level 0.7100 (which also stopped the previous ABC correction (2)) – intersecting with the lower daily Bollinger Band.
If the pair closes today near the current levels it will form the daily candlesticks reversal pattern Hammer – strong buy signal for NZDUSD.
Given the clear daily uptrend – NZDUSD is expected to rise further toward the next resistance level 0.7250 (top of the previous corrective wave B).