Categories: Technical analysis

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).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: NZDUSD

Recent Posts

Pro News Video: Dollar Surges, GBP & EUR Under Pressure, Crypto Hits New Heights

This week, we’re tracking the US Dollar’s powerful climb following Trump's victory, hitting a crucial…

1 day ago

Key Events for the Week From November 18th

Next week, several countries including Canada, the UK, and Japan will release their estimates of…

1 day ago

A Heavy Gold: Investors Taking Profits

Investors have been selling off gold, with this week's drop being the largest in three…

1 day ago

Hang Seng meltdown

The Hang Seng Index has fallen 20% from its peak, marking the start of a…

1 day ago

SP500 quiet correction

The S&P500 reached the 6000 mark but faced resistance due to fatigue and dollar appreciation.…

1 day ago

The third day of Crypto cooling off

The crypto market has continued to cool down for the third day, with a 1.7%…

1 day ago

This website uses cookies