On Monday NZDUSD broke below support at 0.6500. It seemed that declines may be deeper. However already first support at 0.6430 caused rebound. Currently dollar strengthenes at all of the battlefronts and this wave begun after FOMC minutes which were published on Wednesday. Fundamentally there are no reasons to rebound, because first hike of interest rate may – but do not have to – be during December FED meeting. Therefore this upward movement must be treated as correction as long as last high at 0.6880 is not broke above.
Next resistances which may cause declines are at levels: 0.6574, 0.6630, 0.6710. Alternatively if there will be rebound nearest supports are at levels: 0.6500, 0.6430.
Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency.
