Categories: Technical analysis

NZDUSD Wave Analysis – 14 December, 2021

• NZDUSD reversed from support level 0.6740

• Likely to rise to resistance level 0.6820


NZDUSD currency pair recently reversed up from the key support level 0.6740 (which stopped the previous minor impulse wave 3 with the daily Morning Star).

The upward reversal from the support level 149.00 stopped the earlier short-term impulse wave 5.

Given the oversold daily Stochastic, NZDUSD can be expected to rise toward the next resistance level 0.6820 (top of the earlier short-term correction 4).

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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