LeoPrime Daily Market Analysis

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NZDUSD reversed from resistance zone; Likely to fall to 0.66300

NZDUSD recently reversed down with the daily candlesticks reversal pattern Shooting Star from the powerful resistance zone located between the key resistance level 0.68000 and the upper daily Bollinger Band. Given the clear bearish divergence on the daily Stochastic indicator and the strengthening bearish sentiment affecting the new Zealand dollar today – NZDUSD is likely to fall further toward the next support level 0.66300 (low of the daily Bullish Engulfing from the start of September).

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