Technical analysis

NZDUSD Wave Analysis – 31 August, 2021

• NZDUSD broke resistance zone

• Likely to rise to resistance level 0.7085

NZDUSD recently broke the resistance zone located between the round resistance level 0.7000 and the resistance trendline of the daily down channel from May.

The breakout of this resistance zone accelerated the active short-term impulse wave 1 of the intermediate impulse wave (C) from the middle of August.

NZDUSD can be expected to rise further toward the next resistance level 0.7085 (which has been reversing the price from the end of June).

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