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– NZDUSD broke support zone
– Likely to fall to support level 0.5920
NZDUSD currency pair recently broke the support zone set between the support level 0.6050 (which stopped wave A at the start of October) and the 61.8% Fibonacci correction of the upward impulse from August.
The breakout of this support zone accelerated the C-wave of the active ABC correction (2).
Given the strength of the active C-wave, NZDUSD currency pair be expected to fall toward the next support level 0.5920 (target for the completion of the active ABC correction (2)).
Source: https://fxpro.news
