Technical analysis

NZDUSD Wave Analysis

NZDUSD Wave Analysis

• NZD/USD rising inside impulse wave (3) • Further gains are likely

NZD/USD has been rising in the last few trading sessions inside the impulse wave (3) which started earlier from the support zone lying between the major support level 0.6850 (which has been steadily reversing the price from the end of 2016) and the lower weekly Bollinger Band.

The active medium-term impulse wave (3) is a part of the long-term impulse sequence ③ from last November.

Given the strength of the aforementioned support level 0.6850 – NZD/USD is likely to continue to rise in the nearest time. The nearby resistance stands at 0.7100.


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