Technical analysis

NZDUSD Wave Analysis – 21 December, 2022

NZDUSD Wave Analysis – 21 December, 2022

• NZDUSD reversed from key resistance level 0.6440

• Likely to fall to support level 0.6250

NZDUSD recently reversed down from the key resistance level 0.6440 (which has been reversing the pair from middle July, as can be seen below).

The resistance level 0.6440 was further strengthened by the nearby upper daily Bollinger Band and by the 61.8% Fibonacci correction of the downward impulse from last April.

NZDUSD can be expected to fall further toward the next support level 0.6250 (target price for the completion of the active short-term impulse wave (i)).

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