Technical analysis

NZDUSD Wave Analysis – 26 December, 2019

NZDUSD Wave Analysis – 26 December, 2019
  • NZDUSD broke key resistance level 0.6630
  • Likely to rise to 0.6700

NZDUSD recently broke above the key resistance level 0.6630 (which created the pervious daily Japanese candlesticks reversal pattern Shooting Star at the start of December).

The breakout of the resistance level 0.6630 accelerated the active short-term impulse wave C – which belongs to the ABC correction (2) from October.

NZDUSD is expected to rise further toward the next resistance level 0.6700 (target for the completion of the active impulse wave C, intersecting with the daily up channel from October).

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