NZDUSD currency pair under the bearish pressure today after the price reversed down from the resistance area located at the intersection of the key resistance level 0.68200 (previous multi-month support from August) and the 20-day moving average. The downward reversal from this resistance area started the active short-term downward impulse wave (iii). Given the strength of the aforementioned resistance level 0.68200, bearish New Zealand dollar sentiment seen across the currency markets today, NZDUSD currency pair can be expected to fall further toward the next support level 0.67400.
