Market Snapshots

NZDCHF Wave Analysis – 21 May, 2020

NZDCHF Wave Analysis – 21 May, 2020

• NZDCHF rising inside short-term correction

• Likely to rise to 0.5970

NZDCHF continues to rise inside the short-term upward correction which started earlier from the support zone lying between the support level 0.5760 and the lower daily Bollinger Band.

The pair is currently trading close to the resistance level 0.5970 (top of the previous wave (b)).

The breakout of the resistance level 0.5970 is likely to extend the gains toward the next round resistance level 0,600 (former monthly high from April).

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