NZDUSD Technical Analysis Report 21 January, 2022

• NZDUSD under the bearish pressure
• Likely to rise to resistance level 0.6900

NZDUSD currency pair under the bullish pressure after the pair reversed up from the key support level 0.6700 (previous double bottom from the middle of December, as can be seen from the daily NZDUSD chart below), strengthened by the lower daily Bollinger Band. The upward reversal from the support level 0.6700 stopped the earlier minor downward impulse wave 3 from the start of January.

Given the rising NZD bullish sentiment and the strength of the support level 0.6700 – NZDUSD currency pair can be expected to rise further toward the next resistance level 0.6900 (top of the earlier minor correction 2 from the start of this month).

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