LeoPrime Daily Market Analysis

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NZDUSD reversed from resistance area; Likely to reach 0.65750

NZDUSD recently reversed down with the Bearish Engulfing candlesticks reversal pattern from the resistance area located between the resistance level 0.66850 (top of the previous wave (i)), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward price impulse from the middle of September. Given the continuation of the bullish USD sentiment seen today, NZDUSD is likely to fall further toward the next support level 0.65750 (the base of the previous Bullish Engulfing from the middle of October).

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