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– NZDUSD broke the resistance zone
– Likely to rise to resistance level 0.5800
NZDUSD currency pair recently broke the resistance zone between the key resistance level 0.5700 (which stopped the earlier waves iv, 2 and ii), the resistance trendline of the daily down channel from November and the 38.2% Fibonacci correction of the downward impulse from December.
The breakout of this resistance zone stopped the previous minor impulse wave iii of the higher order impulse wave 1 from last October.
NZDUSD currency pair can be expected to rise to the next resistance level 0.5800 (former monthly low from November).
Source: https://fxpro.news
