Categories: Technical analysis

NZDUSD Wave Analysis – 8 September, 2020

• NZDUSD reversed from long-term resistance level 0.6750
• Likely to fall to 0.6600

NZDUSD recently reversed down with the daily Evening Star from the strong long-term resistance level 0.6750 (which stopped the sharp daily uptrend at the start of 2020).

The downward reversal form the resistance level 0.6750 stopped the earlier short-term impulse wave 3 from June.

Given the strength of the resistance level 0.6750 – NZDUSD is expected to fall further toward the next support level 0.6600.

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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