August 14, 2020 at 03:31PM
• GBPNZD broke resistance area
• Likely to rise to 2.0150
GBPNZD recently broke the resistance area lying between the resistance level 2.000 (which also reversed the price at the start of June), intersecting with the 61.8% Fibonacci correction of the previous downward impulse from April.
The breakout of the resistance area continues active medium-term upward impulse sequence (3) from the start of August.
GBPNZD is likely to rise further toward the next resistance level 2.0150 (former strong support from the middle of May).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpnzd-wave-analysis-14-august-2020-20200814/
Selected by fonecable.com
- Dollar retreats from one-month high as traders eye Biden’s FX policy
- Oil prices rise as optimism over economy outweighs fuel demand concerns
- Shares climb on China’s economic recovery, with earnings in focus
- Dollar Edges Lower Ahead of Yellen’s Testimony
- Dow futures rise more than 100 points after Wall Street’s losing week