NZDUSD Wave Analysis – 4 April, 2022

• NZDUSD reversed from key support level 0.6885
• Likely to rise to resistance level 0.7000

NZDUSD recently reversed up with the daily Long-Legged Doji from the key support level 0.6885 (former monthly high from January).

The support area near the support level 0.6885 was strengthened by the 20-day moving average and 38.2% Fibonacci correction of the upward impulse wave 1 from March.

NZDUSD can be expected to rise further toward the next round resistance level 0.7000 (top of the previous impulse wave 1 from last month).