GBPNZD Wave Analysis – 16 April, 2020

• GBPNZD approached resistance area
• Likely to fall to 2.0730

GBPNZD is currently trading near the resistance area lying between the key resistance level 2.0980 (which has been reversing the price from the middle of March) – strengthened by the upper daily Bollinger Band.

This resistance area earlier stopped the previous short-term impulse wave (i) at the end of last month.

If the pair does not break above the resistance level 2.0980 – GBPNZD can then fall to the next support level 2.0730. In the alternative scenario the price can rise up to 2.1200.