Categories: Technical analysis

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).

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.

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The FxPro Tech Analysis Team
Tags: NZDUSD

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