NZDUSD Wave Analysis

  • NZDUSD reversed from resistance level 0.6460
  • Likely to fall to support level 0.6300

NZDUSD recently reversed down from the major resistance level 0.6460 (which has been reversing this currency pair from August).

The resistance level 0.6460 was strengthened by the upper daily Bollinger Band and by the 61.9% Fibonacci retracement of the strong downtrend from last April.

Given the clear daily downtrend, NZDUSD can be expected to fall further toward the next support level 0.6300.

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading