Technical analysis

GBPNZD Wave Analysis 16 April, 2021

GBPNZD Wave Analysis 16 April, 2021

• GBPNZD reversed from support level 1.9245

• Likely to rise to resistance level 1.9450

GBPNZD currency pair recently reversed up from the support level 1.9245 (former resistance from the end of February) intersecting with the lower daily Bollinger Band and the support trendline of the daily up channel from January.

The upward reversal from the support level 1.9245 stopped the previous intermediate impulse wave (3).

GBPNZD is likely to rise further toward the next resistance level 1.9450 (former support from the start of this month).

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