NZD/USD: sell target - 0.6600
By: Dmitriy Chernovolov
- NZD/USD reached sell target 0.6800
- Next sell target - 0.6600
NZD/USD has been falling sharply in the last few trading sessions – following the earlier breakout of the support level 0.6800, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level accelerated the active minor impulse waves (iii) and 5 (which are a part of the sharp extended intermediate impulse wave (3) from May, as you can see below).
NZD/USD is likely to fall further inside the 3 accelerated impulse waves ((iii), 5 and (3)) toward the next sell target 0.6600. The price has to break the daily down channel from April to reach this target.