Technical analysis

NZDUSD Wave Analysis – 20 October, 2021

NZDUSD Wave Analysis – 20 October, 2021

• NZDUSD broke resistance area

• Likely to rise to resistance level 0.7300                                                                  

NZDUSD currency pair earlier broke the resistance area lying between the pivotal resistance level 0.7170 (previous monthly high from September) and the resistance trendline of the daily down channel from May.

The breakout of this resistance area accelerated the active impulse waves (iii), 3 and (C).

NZDUSD can be expected to rise further toward the next resistance level 0.7300 (former monthly high from March and May).

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