NZDUSD Wave Analysis 31 December 2024
- NZDUSD broke key support 0.5600
- Likely to fall to support level 0.5500
NZDUSD currency pair under the bearish pressure after breaking the key support 0.5600, which stopped the previous long-term ABC correction (2) earlier this month.
The breakout of the support 0.5600 strengthened the bearish pressure on this currency pair.
Given the multi-month downtrend, NZDUSD currency pair can be expected to fall to the next major support level 0.5500 (which stopped multiyear downtrend in 2022) - from where the upward correction is likely.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.