Technical analysis

NZDUSD Wave Analysis 9 March, 2021

NZDUSD Wave Analysis 9 March, 2021

• NZDUSD reversed from the support level 0.7100

• Likely to reach resistance level 0.7200

NZDUSD recently reversed up from the support level 0.7100 (which has been reversing the price from the middle of January – low of the previous waves 4 and (ii)) – standing near the lower daily Bollinger Band and 38.2% Fibonacci correction of the upward impulse from October.

The upward reversal form the support level 0.7100 started the active minor corrective wave B.

NZDUSD is likely to rise further toward the next resistance level 0.7200 (former minor support from the start of March).

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