NZDUSD recently reversed down from the combined resistance area located between the key resistance level 0.61990 (which stopped the previous A wave of the active medium-term ABC correction (4) from last month), upper daily Bollinger Band and the 61.8% Fibonacci retracement of the previous sharp downward impulse wave from the start of March. Given the strength of the previous weekly downward impulse from December of 2019 and the rising bullish US dollar sentiment – NZDUSD is likely to extend the losses toward the next support level 0.59500.