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NZDUSD Wave Analysis – 03 May, 2019

  • NZDUSD reversed from support area
  • Further gains are likely

NZDUSD recently reversed up from the support area lying between the key support level 0.6600 (monthly low from the end of December) and the lower daily Bollinger Band.

The upward reversal from this support area created the weekly Japanese candlesticks reversal pattern Hammer – standing outside of the lower weekly Bollinger Band.

NZDUSD is expected to rise further and re-test the next resistance level 0.6700 (former support from January).

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Source: FxPro


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