LeoPrime Daily Market Analysis

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NZDUSD under bearish pressure; Likely to fall to support level 0.68150

NZDUSD currency pair under the bearish pressure today after the price broke the support area lying between the key round support level 0.70000 (which has been reversing the price over the last few trading sessions) and the 50% Fibonacci correction of the earlier upward impulse wave (1) from the middle of August. Given the rising bullish USD sentiment seen across the FX markets today – NZDUSD currency pair can be expected to fall further toward the next support level 0.68150 (previous monthly low from August and the target for the completion of the impulse wave C).

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