Technical analysis

NZDUSD Wave Analysis – 1 December, 2022

NZDUSD Wave Analysis – 1 December, 2022

• NZDUSD broke key resistance level 0.6250

• Likely to rise to resistance level 0.6440

NZDUSD recently broke the key resistance level 0.6250 (which has been reversing the price from August), intersecting with the 50% Fibonacci correction of the downward impulse from April.

The breakout of the resistance level 0.6250 accelerated the impulse wave 3 of the impulse sequence (C) from the start of November.

NZDUSD can be expected to rise further toward the next resistance level 0.6440 (multi-month high from August, target for the completion of the active impulse wave 3).

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