Categories: Technical analysis

NZDUSD Wave Analysis – 14 February 2025

– NZDUSD broke the resistance zone

– Likely to rise to resistance level 0.5800

NZDUSD currency pair recently broke the resistance zone between the key resistance level 0.5700 (which stopped the earlier waves iv, 2 and ii), the resistance trendline of the daily down channel from November and the 38.2% Fibonacci correction of the downward impulse from December.

The breakout of this resistance zone stopped the previous minor impulse wave iii of the higher order impulse wave 1 from last October.

NZDUSD currency pair can be expected to rise to the next resistance level 0.5800 (former monthly low from November).

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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