Categories: Technical analysis

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.

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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