NZDCHF Wave Analysis 26 October 2023

– NZDCHF reversed from key support level 0.5180

– Likely to rise to resistance level 0.5300

NZDCHF currency pair recently reversed up from the key support level 0.5180 (which stopped the prolonged daily downtrend in August as can be seen below).

The support level 0.5180 was further strengthened by the lower daily Bollinger Band.

Given the strength of the support level 0.5180 and the oversold daily Stochastic, NZDCHF currency pair can be expected to rise further toward the next resistance level 0.5300.