NZD/USD: sell target - 0.7400
- NZD/USD completed intermediate correction (2)
- Next sell target - 0.7400
NZD/USD recently reversed down from the strong resistance zone surrounding the resistance level 0.7630 (which has been reversing the price from February), the upper daily Bollinger Band, the 61.8% Fibonacci Correction of the previous sharp intermediate impulse (5) and the resistance trendline of the daily down channel from last year (as you can see from the daily NZD/USD chart below). The last reversal from this resistance zone completed the second intermediate correction (2) of the active primary impulse ③ from March.
NZD/USD is likely to fall further inside the active intermediate impulse wave (3) toward the next sell target at the support level 0.7400 (which reversed the previous intermediate impulse (1)).