Categories: Technical analysis

NZDCHF Wave Analysis 19 February, 2021

• NZDCHF broke resistance level 0.6500

• Likely to reach resistance level 0.6550

NZDCHF rose sharply today – on improved risk sentiment (which is driving Swiss franc sales) – above the resistance level 0.6500 (top of the previous impulse wave (i)).

The breakout of the resistance level 0.6500 should be followed with the daily close above this price level – for the predominant uptrend to continue.

If the pair closes above the resistance level 0.6500 – NZDCHF can then be expected to rise further toward the next resistance level 0.6550.

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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