Categories: Technical analysis

NZDCHF Wave Analysis – 14 May, 2019

  • NZDCHF reversed from support area
  • Further gains are likely

NZDCHF recently reversed up from the support area lying between the support level 0.6600 (which stopped the previous downward correction in January), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from September.

The upward reversal from this support area stopped the previous short-term impulse wave (iii) from the middle of April.

NZDCHF is expected to rise further and retest the next resistance level 0.6710 (former strong support from April).

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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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