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.

Share
Published by
The FxPro Tech Analysis Team
Tags: NZDUSD

Recent Posts

Adobe Wave Analysis 3 May 2024

- Adobe reversed from support zone - Likely to rise to resistance level 500.00 Adobe…

15 hours ago

EURGBP Wave Analysis 3 May 2024

- EURJPY reversed from support zone - Likely to rise to resistance level 0.8625 EURGBP…

15 hours ago

How Low Can the USDJPY Go?

USDJPY was slipping below 153 on Friday morning, a three-week low and having lost over…

22 hours ago

Bitcoin’s Downtrend, Solana and Ethereum Form Double Bottom

Market picture  Crypto market capitalisation rose 3.3% in 24 hours to $2.22 trillion. Local capitalisation…

1 day ago

EURJPY Wave Analysis 2 May 2024

- EURJPY under strong bearish pressure - Likely to fall to support level 163.10 EURJPY…

2 days ago

WTI crude oil Wave Analysis 2 May 2024

- WTI broke round support level 80.00 - Likely to fall to support level 76.00…

2 days ago

This website uses cookies