Categories: Technical analysis

NZDCHF Wave Analysis – 7 April 2023

   

• NZDCHF reversed from key support level 0.5630

• Likely to rise to resistance level 0.5700

NZDCHF recently reversed up from the key support level 0.5630 (previous monthly low from the middle of March) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 0.5630 stopped the previous short-term impulse wave 3 – which belongs to the intermediate impulse wave (3) from March.

Given the oversold daily Stochastic, NZDCHF can then be expected to rise further toward the next resistance level 0.5700.

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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The FxPro Tech Analysis Team
Tags: NZDCHF

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