NZDUSD Wave Analysis 30 July 2024

– NZDUSD reversed from support level 0.5860

– Likely to rise to resistance level 0.5920

NZDUSD currency pair recently reversed up from the pivotal support level 0.5860 (which reversed the price twice in April), standing close to the lower daily Bollinger Band.

The upward reversal from the support level 0.5860 stopped the c-wave of the previous minor ABC correction 2.

Given the strength of the support level 0.5860, bullish NZD sentiment and the oversold daily Stochastic, NZDUSD currency pair can be expected to rise further to the next resistance level 0.5920.