NZDUSD Wave Analysis – 21 July, 2020

• NZDUSD broke key resistance level 0.6590

• Likely to rise to 0.6750

NZDUSD continues to rise after the recent breakout of the key resistance level 0.6590 (former monthly high from the start of June).

The breakout of this resistance level accelerated the active impulse wave 3 – which belongs to the extended upward impulse sequence (C) from May.

NZDUSD is likely to rise further toward the next resistance level 0.6750 (monthly top from December and the target price for the completion of the active impulse sequence (C)).