FX.co ★ NZD/USD

In the NZD/USD currency market on the H1 timeframe, provided the 0.56612 level holds intact, a local downward wave is expected. This conclusion is based on comprehensive multi-timeframe analysis, which includes Elliott Wave Analysis (EWA), MACD histogram data, and the positioning of exponential moving averages with periods 55, 89, and 144. In addition, the probabilities of technical and wave pattern setups are taken into account. According to the forecast, after this decline a significant upward correction is expected, which will be part of the fourth subwave.