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NZDUSD Wave Analysis – 30 January, 2019

  • NZDUSD broke resistance area
  • Further gains are likely

NZDUSD recently broke the resistance area lying between the resistance level 0.6850 (previous high from the start of January) – intersecting with the resistance trendline from the middle of April. This price area is acting as strong support zone after it was broken.

The breakout of this price zone accelerated the active short-term correction 2 from the start of January.

NZDUSD is expected to rise further and re-test the next resistance level 0.6950 (which reversed the previous ABC correction (2) in December).

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Source: FxPro


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