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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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