LeoPrime Daily Market Analysis

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NZDUSD reversed from support area; Likely to rise to resistance level 0.73000.

NZDUSD currency pair recently reversed up from the support area lying between the key support level 0.71500 ( which has been reversing the price from the middle of April), 50-day moving average, lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from March. The upward reversal from this support area stopped the previous intermediate ABC correction (2) Given the strongly bullish NZD sentiment seen today – NZDUSD currency pair can be expected to rise further toward the next key resistance level 0.73000 (which has been reversing the price from the end of April).

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