Categories: Technical analysis

NZDUSD Wave Analysis – 20 February 2023

• NZDUSD reversed from key support level 0.6220

• Likely to rise to resistance level 0.6400

NZDUSD currency pair recently reversed up from the key support level 0.6220, intersecting with the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from November.

The upward reversal from the support level 0.6220 stopped the previous short-term ABC correction 2.

NZDUSD can be expected to rise further toward the next resistance level 0.6400 (top of the previous minor correction (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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Tags: NZDUSD

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