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NZDUSD broke major resistance level 0.71500; Likely to rise to resistance level 0.73000

NZDUSD currency pair under the bullish pressure today after the price broke the major resistance level 0.71500 (previous multi-candle top from  September) – standing near the 61.8% Fibonacci correction of the downward impulse C from May. The breakout of the resistance level 0.71500 accelerated the active impulse waves 3 and (iii). Given the strong bullish New Zealand sentiment and strong bearish USD sentiment seen across the currency markets today – NZDUSD currency pair can be expected to rise further toward the next resistance level 0.73000 (previous double top from May).

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