(MENAFN- FxPro)
- NZDUSD falling inside corrective wave 2
- Further losses are likely
NZDUSD continues to fall inside the second corrective wave 2 – which started earlier from the resistance area lying between the key resistance level 0.6680 and the upper daily Bollinger Band.
The active corrective wave 2 belongs to the medium-term upward impulse sequence (3) from the end of May.
NZDUSD is expected to fall further and retest the next key support level 0.6490 (low of the previous long-term ABC correction (2)).
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