NZDUSD Wave Analysis 20 November, 2020

• NZDUSD broke resistance area

• Likely to rise to 0,7000

NZDUSD under bullish pressure after the earlier breakout of the resistance area lying at the intersection of the  resistance level 0,6900 and the resistance trendline of the daily up channel from the end of June.

The breakout of this resistance area is aligned with the active nested impulse waves 3 and (3).

NZDUSD is likely to rise further toward the next round resistance level 0,7000 (target price for the completion of the active impulse wave (3)).