Categories: Technical analysis

NZDUSD Wave Analysis – 14 June, 2019

  • NZDUSD falling inside corrective wave 2
  • Further losses are likely

NZDUSD continues to fall inside the second corrective wave 2 – which started earlier from the resistance area lying between the key resistance level 0.6680 and the upper daily Bollinger Band.

The active corrective wave 2 belongs to the medium-term upward impulse sequence (3) from the end of May.

NZDUSD is expected to fall further and retest the next key support level 0.6490 (low of the previous long-term ABC correction (2)).

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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