NZDCHF Wave Analysis – 22 October, 2019

• NZDCHF broke resistance zone
• Likely to rise to 0.6400

NZDCHF continues to rise inside the short-term corrective wave (ii) – which recently broke through the resistance zone lying between the resistance level 0.6315 and the 61.8% Fibonacci correction of the previous downward impulse (i) from September.

The breakout of this resistance zone strengthened the bullish pressure on this currency pair.

NZDCHF is expected to rise further and retest the next resistance level 0.6400 (monthly high from September and the target price calculated for the completion of the active wave (ii)).