NZD/USD is waiting for correction
The NZD/USD pair after the growth on the very optimistic results of the RBNZ meeting, turned out to be a significant overbought. The update of the maximum at 0.6850-20 also corresponds to the upper border of the monthly downtrend. The growth of optimism in stock markets and the demand for commodity currencies limits the possibility of correction.
Transactions for the sale of the NZD/USD pair should be considered after psychological support 0.6800-20 will be broken. In turn, it will open the way to support levels: 0.6750 and 0.6730. Resistance is located at the marks: 0.6830 and 0.6850.
Read also: “Geopolitical risks for the beginning of 2019”
Hanzenko Anton
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