NZDUSD Wave Analysis – 11 December , 2018

• NZDUSD reversed from key support level 0.6800 • Further gains are likely

NZDUSD recently reversed up from the key support level 0.6800 (former strong resistance from July and November – acting as support after it was broken by the previous upward impulse 1).

The upward reversal from this support level started the active short–term impulse wave 3 – which belongs to the medium-term impulse wave (C) from the end of November.

NZDUSD is expected to rise further and re-test the next resistance level 0.6960 (top of the previous impulse wave 1).

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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