Technical analysis

NZDCHF Wave Analysis – 9 June, 2021

• NZDCHF approached support zone

• Likely to rise to resistance level 0.6500

NZDCHF currency pair is currently trading near the support zone lying between the key support level 0.6420 and the lower daily Bollinger Band.

This support zone is further strengthened by the 61.8% Fibonacci correction of the upward from last December.

Given the strength of the nearby support zone – NZDCHF currency pair can then be expected to correct up from the current levels toward the next resistance level 0.6500 (top of the minor correction (ii) from the start of June).

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