NZDCHF Wave Analysis – 06 August, 2019

• NZDCHF reversed from key support level 0.6330
• Further gains are likely

NZDCHF today reversed up from the multi-month support level 0.6330 – which also stopped the strong downtrend in September.

The support area near the support level 0.6330 was strengthened by the lower daily Bollinger Band.

Given the oversold daily Stochastic indicator – NZDCHF is expected to rise further and retest the next resistance level 0.6430 (former support from May and June).