LeoPrime Daily Market Analysis

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NZDUSD rising inside impulse wave; Likely to reach to 0.68000

NZDUSD continues to rise inside the short-term impulse wave 3 which started earlier from the support area lying between the pivotal support level 0.65200 (which has been reversing the price from the start of July), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward impulse from the end of June. Given the moderately bullish New Zealand dollar sentiment seen across the FX markets today – NZDUSD is likely to rise further toward the next resistance level 0.68000 (top of the previous impulse wave 1 and the target for the completion of the active wave 3).

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