GBPNZD – demand reaction at very interesting level

Last week analysis was profitable. I wrote: “Today support was broken (it stopped declines for 2 months) and right now there is a clear path for bears to test 2.0800”. In the area 2.0800 there is an equal A=B of current correction. This level is strengthened by important support.

A little lower at 2.0600 there is Fibonacci 78.6% of previous upward movement which lasted from April to August 2015. Nearest resistances are at levels: 2.1510, 2.2430, 2.3300 and price is reaching there. Support is located at area 2.0800 – 2.0600.

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