Technical analysis

NZDCHF Wave Analysis – 13 July 2023

– NZDCHF reversed from support level 0.5440

– Likely to rise to resistance level 0.5565

NZDCHF recently reversed up with the daily Morning Star from the key multi-month support level 0.5440, which has been reversing the price from the end of April.

The upward reversal from the support level 0.5440 stopped the C-wave of the previous ABC correction B from May.

Given the strength of the support level 0.5440, NZDCHF can be expected to rise further toward the next resistance level 0.5565 (top of the previous minor correction (ii)).

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