Technical analysis

NZDUSD Wave Analysis – 20 April, 2022

NZDUSD Wave Analysis – 20 April, 2022

• NZDUSD reversed from support level 0.6735
• Likely to rise to resistance level 0.6850

NZDUSD currency pair recently reversed up from the key support level 0.6735 (the former monthly low from March), strengthened by the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from February.

The upward reversal from the support level 0.6735 will , most likely, form the daily Morning Star – a strong bullish signal for NZDUSD.

NZDUSD can be expected to rise further in the active impulse wave (3) toward the next resistance level 0.6850.

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