Technical analysis

NZDUSD Wave Analysis 2 April, 2021

NZDUSD Wave Analysis 2 April, 2021

• NZDUSD reversed from resistance level 0.7030

• Likely to fall to support level 0.6940

NZDUSD recently reversed down from the resistance level 0.7030 (former strong support from last December).

The resistance area near the resistance level 0.7030 is strengthened by the 38.2% Fibonacci correction level of the previous minor impulse wave from last month.

NZDUSD is likely to fall further toward the next support level 0.6940 (low of the previous ABC correction 2 from the end of March).

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