Categories: Technical analysis

NZDUSD Wave Analysis – 9 May, 2022

• NZDUSD broke key support level 0.6410
• Likely to fall to support level 0.6300

NZDUSD currency pair under the bearish pressure after the price broke the key support level 0.6410 (which reversed the price sharply at the start of this month).

The breakout of the support level 0.6410 accelerated the active impulse waves 3 and (3).

Given the clear daily downtrend – NZDUSD currency pair can be expected to fall further toward the next support level 0.6300 (target price for the completion of the active wave (3)).

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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