June 23, 2014
NZD/USD continues to rise after recently reaching the buy target 0.8700 that was set in our earlier technical analysis report for this currency pair. The price previously reversed up from the strong support level 0.8400.
The sharp upward price impulse (3) from this support level broke the upper resistance trendline of the latest down channel – which has enclosed the preceding intermediate correction (2) (as you can see below). NZD/USD is expected to rise to the next buy target at 0.8800 (which created the top of earlier wave (1)) – followed by 0.8900.
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