Technical analysis

NZDUSD Wave Analysis 25 November, 2020

NZDUSD Wave Analysis 25 November, 2020

• NZDUSD continues multi-month uptrend

• Likely to rise to 0.7100

NZDUSD continues to rise inside the minor upward impulse sequence 3, which earlier reversed up sharply from the support level 0.6900, intersecting with the upper trendline of the daily up channel from July.

The active impulse wave 3 belongs to the sharp upward impulse sequence (3) from the start of November.

NZDUSD is likely to rise further toward the next round resistance level 0.7100 (target price calculated for the completion of the active impulse wave 3).

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