Technical analysis

NZDUSD Wave Analysis – 26 July, 2021

• NZDUSD reversed from support zone

• Likely to rise to resistance level 0.7050

NZDUSD currency pair recently reversed up from the support zone lying between the support level 0.6915 (which has been reversing the price from the start of July) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous medium-term impulse wave (C).

Given the bullish RSI divergence – NZDUSD currency pair can be expected to rise further toward the next resistance level 0.7050.

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