June 11, 2014
NZD/USD continues to rise after the recent reversal from the support zone near the support level 0.8400 (former resistance level which has reversed the pair a few times down from last November to February).
The support zone near 0.8400 was strengthened by 50% Fibonacci Correction of the earlier intermediate impulse (1) from February and the lower daily Bollinger Band. The latest reversal from this support zone completed the second intermediate corrective wave (2).NZD/USD is expected to rise further to the next buy target at 0.8700.
The post HY MARKETS News: Forex Report: NZD/USD appeared first on | HY Markets Official blog.
