Technical analysis

NZDUSD Wave Analysis – 14 January, 2022

NZDUSD Wave Analysis – 14 January, 2022

• NZDUSD reversed from resistance level 0.6855

• Likely to fall to support level 0.6800

NZDUSD currency pair recently reversed down from the pivotal resistance level 0.6855 (former monthly low from September), strengthened by the upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from November.

The downward reversal from the resistance level 0.6855 stopped the previous short-term ABC correction 2.

Given the clear daily downtrend- NZDUSD currency pair can be expected to fall further toward the next support level 0.6800.

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