Categories: Technical analysis

NZDUSD Wave Analysis – 8 April, 2022

• NZDUSD reversed from resistance zone
• Likely to fall to support level 0.6830

NZDUSD currency pair recently reversed down from the resistance zone located between the round resistance level 0.7000 and the upper daily Bollinger Band.

The pair just broke the support level 0.6890 (which has been reversing the price since March) – which accelerated the active wave 2.

NZDUSD can be expected to fall further toward the next support level 0.6830 (target for the completion of the active wave 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.

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The FxPro Tech Analysis Team
Tags: NZDUSD

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