NZDUSD looking to find a support in this pullback – Elliott Wave forecast
Jan 5, 2023

NZDUSD

NZDUSD is looking to find a support, as we see it making a pullback within uptrend from Elliott wave perspective.

NZDUSD turned bullish as expected after we spotted a completed five-wave bearish cycle within wave C back in October. Notice that the recent rise is much more extended and clearly by five waves up without overlaps up from October lows, so it’s an impulse; a change in trend that will send prices even higher in 2023. However, nothing moves in straight lines. We know that after every five waves, a three-wave correction occurs, so so after current (A)-(B)-(C) set-back with interesting support at 0.615 – 0.6080 area, be aware of a bullish resumption. Next deeper support would be around 0.60 – 0.59 zone.

NZDUSD looking to find a support in this pullback – Elliott Wave forecast 4H Chart
NZDUSD 4H Chart

If you want to know what is our higher time frame view on NZDUSD and other markets, please check our Exclusive Video below; the 2023 Elliott Wave Forecast

Interested in US stocks? Apple is coming into support. Check our chart HERE

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