NZDUSD Wave Analysis – 31 January 2023

• NZDUSD reversed from resistance level 0.6500

• Likely to fall to support level 0.6360

NZDUSD currency pair recently reversed down from the resistance level 0.6500 (the previous monthly high from last month, which stopped the previous wave (A)).

The resistance level 0.6500 was further strengthened by the upper daily Bollinger Band.

NZDUSD can be expected to fall further toward the next support level 0.6360 (low of the previous short-term correction 2).