LeoPrime Daily Market Analysis

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NZDUSD reversed from resistance level of 0.69850; Likely to fall to support level 0.68700.

NZDUSD currency pair recently reversed down with the daily Shooting Star from the key resistance level of 0.69850 (which has been reversing the price from November, as can be seen below), standing close to the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from last October. Given the strongly bearish new Zealand dollar sentiment across the FX markets today – NZDUSD currency pair can be expected to fall further toward the next support level 0.68700 (which has been reversing the price from last month)

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