NZDUSD recently broke above the key resistance level 0.71000 (which stopped the previous sharp upward impulse wave (i) at the start of December). The breakout of the resistance level 0.71000 should accelerate the active short-term upward impulse wave 5 – which belongs to the powerful on-going impulse wave (5) from September. Given the strong daily uptrend and the strongly bearish USD sentiment seen across the FX markets today – NZDUSD is expected to rise further toward the next resistance level 0.73000 (target price for the completion of the active impulse wave (5)).
