Categories: Technical analysis

GBPNZD Wave Analysis 16 April, 2021

• GBPNZD reversed from support level 1.9245

• Likely to rise to resistance level 1.9450

GBPNZD currency pair recently reversed up from the support level 1.9245 (former resistance from the end of February) intersecting with the lower daily Bollinger Band and the support trendline of the daily up channel from January.

The upward reversal from the support level 1.9245 stopped the previous intermediate impulse wave (3).

GBPNZD is likely to rise further toward the next resistance level 1.9450 (former support from the start of this month).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: GBPNZD

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