NZD/USD reached buy target 0.7050

NZD/USD reached buy target 0.7050
Next buy target - 0.7130.

NZD/USD continues to rise after the earlier breakout of the resistance level 0.7050 (top of wave 4, which was set as the buy target in our earlier forecast for this currency pair). The breakout of the resistance level 0.7050 was preceded by the breakout of the 38.2% Fibonacci correction of the previous intermediate impulse wave (C) from the start of February, as can be seen below.

If the pair closes today above resistance level 0.7050 - NZD/USD can then be expected to rise to the next buy target at the resistance level 0.7130.

nzd - new zealand dollar

Similar

19.02.2021 13:13 NZD/USD: entering the six-year resistance zone

The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?

17.02.2021 10:32 EUR/GBP: bears eye 16-month-old support

The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.

09.02.2021 16:19 Cable hit record high since 2018

Jump in to get the technical analysis of EUR/GBP, GBP/USD, and gold!

Latest news

03.04.2024 18:19 USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

28.03.2024 16:00 WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.