Friday’s Brexit referendum result caused real turbulence on Forex market, not only on pars connected with GBP. NZDUSD had strong bearish session – it decreased from 0.7220 to 0.7120. The pair was very volatile, during session it reached 0.7280 and 0.7120 on the other side. Today it should be back to normal however there can still be some volatility.
On the H4 chart of NZDUSD we can see that price is right now between support at 0.6970 and resistance at 0.7135. Before price broke this resistance and reached another one at 0.7245 it was in the mentioned range since June 7th. Wider trend is bullish so more probable is move up in direction of 0.7135 resistance, however it can decrease to the support, we are not sure whether markets discounted referendum results.
