NZD/USD: buy target - 0.6900
By: Dmitriy Chernovolov
- NZD/USD broke resistance level 0.6800
- Next buy target - 0.6900
NZD/USD has been rising in the last few trading sessions inside the 3rd minor impulse wave 3 - which belongs to the intermediate (C)-wave from the middle of November. The active impulse wave 3 earlier reversed up sharply with the daily Japanese candlesticks reversal pattern Morning Star from the support zone lying between the support level 0.6600 and the 50% Fibonacci Correction of the previous upward price impulse from November.
Having recently broken above the resistance level 0.6800 - NZD/USD is likely to rise further toward the next buy target at the next strong resistance level 0.6900 (which stopped the previous (A)-wave in October).