NZDCHF Wave Analysis 11 December, 2020
December 11, 2020 @ 18:24 +03:00
• NZDCHF rising inside wave (b))
• Likely to test resistance level 0.6375
NZDCHF recently reversed up from the key support level 0.6235 (former low of wave (iv) from November) – standing close to the lower daily Bollinger Band and 38.2% Fibonacci correction of the upward impulse 1 from October.
The upward reversal from the support level 0.6235 started the active short-term correction (b). NZDCHF is expected to rise further toward the next resistance level 0.6375 (top of the previous impulse wave 1 and the target for the completion of the active wave (b)).