Technical analysis

NZDUSD Wave Analysis 28 January, 2021

NZDUSD Wave Analysis 28 January, 2021

• NZDUSD reversed from support level 0.7100  

• Likely to rise to 0.7250

NZDUSD today reversed up from the key support level 0.7100 (which also stopped the previous ABC correction (2)) – intersecting with the lower daily Bollinger Band.

If the pair closes today near the current levels it will form the daily candlesticks reversal pattern Hammer – strong buy signal for NZDUSD.

Given the clear daily uptrend  – NZDUSD is expected to rise further toward the next resistance level 0.7250 (top of the previous corrective wave B).

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