LeoPrime Daily Market Analysis

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NZDUSD under bearish pressure support level 0.65350; Likely to fall to support level 0.64000.


NZDUSD currency pair is under the bearish pressure after the recent breakout of the key multi-month support level 0.65350 (which stopped the previous downtrend at the end of January). The breakout of this support level 0.6535 accelerated the active medium-term downward impulse wave (3). Given the continued bullish US dollar sentiment seen across the currency markets today -NZDUSD currency pair can be expected to fall further toward the next support level 0.64000 (target for the completion of the active impulse wave (3)).

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