- NZDUSD Reverses From Key Resistance Level 0.6020
- Possible fall to support level 0.5900
The NZDUSD currency pair recently reversed down from a key resistance level at 0.6020 (strong support from June that stopped the previous 4th and 1st waves) and crossed the upper daily Bollinger Band.
A downward reversal from the resistance level 0.6020 is currently forming the daily candlestick reversal pattern Evening Star Doji.
Given the clear daily downtrend, overbought daily stochastics and continued NZD selling, NZDUSD falls further towards the next support level at 0.5900, which has reversed multiple waves from August. It is expected that this will happen.
