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NZDUSD reversed from 0.64300 resistance area; Likely to fall to 0.6360

NZDUSD recently reversed down from the resistance area lying at the intersection of the resistance level 0.6430 (top of the previous correction 2 from September), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous impulse wave 3 from July. The downward reversal from this resistance area created the daily reversal pattern Shooting Star (standing outside of the upper daily Bollinger Band, which is a strong sell signal for this currency pair). NZDUSD is expected to fall further toward the next support level 0.6360 (former top of waves (a) and (b)).

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