Categories: Technical analysis

NZDUSD Wave Analysis – 02 April, 2019

  • NZDUSD reversed from resistance area
  • Further losses are likely

NZDUSD today reversed down from the resistance area lying at the intersection of the resistance level 0.6830 (former support from March) and the former support trendline from January (acting as resistance after it was broken previously).

The downward reversal from this resistance area continues the active short-term impulse wave 3 from the strong resistance level 0.6940.

NZDUSD is expected to fall further and re-test the next support level 0.6700 (strong support from February and January).

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: NZDUSD

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