Market Snapshots

NZDUSD Wave Analysis – 07 August, 2020

NZDUSD Wave Analysis – 07 August, 2020

• NZDUSD reversed from pivotal resistance level 0.6690

• Likely to fall to 0,6575

NZDUSD recently reversed down from the pivotal resistance level 0.6690 (former multi-candle top from the end of June) – located near the upper daily Bollinger band.

The downward reversal from the resistance level 0.6690 stopped the previous short-term impulse wave 3.

NZDUSD is likely to fall further toward the next support level 0,6575 (former strong resistance from the start of June).

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