NZDUSD scaled up to a 33-month high during the first session of 2021, just shy of the 73.50c.
The upside move in impulse wave 5 of (C) is seen as part of a triple zigzag correction. The last correction in wave Ⓩ suggests a target at the 61.80% Fibonacci extension of (A)-(B).
The 0.73187 resistance is calculated based on intermediate waves (A) and (B) ending at 71c and 70c, respectively.
Another target can be calculated based on intermediate waves (A) and (B) ending at 69.50c and 69c, respectively.
The 100% Fibonacci extension of (A) and (B) in this scenario leads to a high of 72.75c. This suggests an ending diagonal that is either completed already or is likely to end shortly at 72.76c.
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