NZDUSD Wave Analysis – Action Forex

NZDUSD: ⬇️ Promote

• NZDUSD reversed from the resistance degree 0.6020
•  More likely to fall to assist degree 0.5800

NZDUSD forex pair lately reversed down from the pivotal resistance degree 0.6020 (former prime of wave 2 from November) intersecting with the 61.8% Fibonacci correction of the downward impulse from September.

The downward reversal from the resistance degree 0.6020 began the energetic intermediate impulse wave (3).

Given the overbought every day Stochastic, NZDUSD forex pair could be anticipated to fall to the subsequent assist degree 0.5800, the previous resistance from March and the goal for the completion of the energetic impulse wave 1.