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NZD/USD broke key support level 0.7050

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  • NZD/USD broke key support level 0.7050
  • Next sell target - 0.6950

NZD/USD continues to fall after the earlier breakout of the key support level 0.7050 (which stopped the previous minor impulse wave (i) at eth start of October, as can be seen below). The breakout of the support level 0.7050 should accelerate the minor sub wave (iii) of the impulse wave (c) from the middle of September. NZD/USD is expected to fall to the next sell target at the next support level 0.6950 (former resistance level from May). Strong resistance now stands at 0.7050.

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