NZDUSD Technical Analysis Report 14 May, 2021

• NZDUSD reversed from support area
• Likely to rise to resistance level 0.7300

NZDUSD currency pair recently reversed up from the support area located between the key support level 0.7140 (which has been reversing the price from the middle of April), lower daily Bollinger Band and the 38.2% Fibonacci correction level of the previous upward impulse from the end of March. The upward reversal from the support level 0.7140 continues the active impulse wave (3).

Given the longer-term uptrend and the strengthening bullish NZD sentiment see across the FX markets today NZDUSD currency pair can be expected to rise further toward the next resistance level 0.7300 (which stopped the price at the start of May).

Was this post helpful?