Categories: 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)).

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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Tags: NZDCHF

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