Categories: Technical analysis

NZDUSD Wave Analysis – 19 August, 2022

• NZDUSD broke support level 0.6220

• Likely to fall to support level 0.6135

NZDUSD recently broke the support level 0.6220 (low of the previous wave B, which has been reversing the pair from last month).

The breakout of the support level 0.6220 coincided with the 61.8% Fibonacci correction of the upward impulse from July. Given clear daily downtrend – NZDUSD can be expected to fall further toward the next support level 0.6135 (target for the end of the active wave (B)).

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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The FxPro Tech Analysis Team
Tags: NZDUSD

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