Technical analysis

NZDUSD Wave Analysis – 13 July, 2021

• NZDUSD reversed from support level 0.6915
• Likely to rise to resistance level 0.7060

NZDUSD currency pair recently reversed up from the support level 0.6915 (previous monthly low from June), standing near the lower daily Bollinger band and 61.8% Fibonacci retracement of the sharp upward impulse from November.

The upward reversal from the support level 0.6915 stopped the previous minor impulse waves 3 and (C).

Given the bullish divergence on the daily Stochastic indicator – NZDUSD currency pair can be expected to rise further toward the next resistance level 0.7060.

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