Categories: Technical analysis

NZDUSD Wave Analysis 28 January, 2021

• NZDUSD reversed from support level 0.7100  

• Likely to rise to 0.7250

NZDUSD today reversed up from the key support level 0.7100 (which also stopped the previous ABC correction (2)) – intersecting with the lower daily Bollinger Band.

If the pair closes today near the current levels it will form the daily candlesticks reversal pattern Hammer – strong buy signal for NZDUSD.

Given the clear daily uptrend  – NZDUSD is expected to rise further toward the next resistance level 0.7250 (top of the previous corrective wave B).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: NZDUSD

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