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NZD/USD reversed from support zone

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  • NZD/USD reversed from support zone
  • Next buy target - 0.7040

 NZD/USD continues to rise after the earlier upward reversal from the support zone lying at the intersection of the long-term support level 0.6830 (which has been reversing the price from the end of 2017 as can be seen from the weekly NZD/USD chart below) and the lower weekly Bollinger Band. If the pair closes this week near the current levels it will form the weekly Hammer. NZD/USD is expected to rise further toward the next buy target at the next resistance level 0.7040.

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