NZDCHF Wave Analysis – 29 April, 2020

NZDCHF broke key resistance level 0.5900
Likely to rise up to 0.6000

NZDCHF recently broke the key resistance level 0.5900 (which stopped the (a)-wave of the previous ABC correction 2).

The breakout of the resistance level 0.5900 coincided with the breakout of the 50% Fibonacci correction of the previous sharp downward impulse from December.

NZDCHF is expected to rise further toward the next round resistance level 0.6000 (former resistance from the start of march).

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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