NZD/USD rising inside impulse waves (v) and (C)
By: Dmitriy Chernovolov
- NZD/USD rising inside impulse waves (v) and (C)
- Next buy target - 0.7050
NZD/USD has been rising sharply in the last few trading sessions inside the minor impulse wave (v), which belongs to the strong intermediate impulse wave (C) from January. The active impulse wave (v) started earlier – when the price reversed up from the support zone lying between the pivotal support level 0.6860 (former strong resistance level from December and March) and the 38.2% Fibonacci correction of the previous upward impulse from March.
NZD/USD is likely to rise further to the next buy target at the resistance level 0.7050 (which stopped the previous minor impulse wave (iii) in April).