NZDUSD Wave Analysis 17 December, 2020

• NZDUSD broke key resistance level 0.7115

• Likely to rise to 0.7200

NZDUSD recently broke above the key resistance level 0.7115 (which has been repeatedly reversing this currency pair from the start of December).

The breakout of the resistance level 0.7115 continues both of the active impulse waves 5 and (C).

Given the predominant uptrend – NZDUSD is expected to rise further toward the next resistance level 0.7200. Strong support now stands at the support level 0.7115.