Technical analysis

NZDCHF Wave Analysis – 06 August, 2019

NZDCHF Wave Analysis – 06 August, 2019
  • NZDCHF reversed from key support level 0.6330
  • Further gains are likely

 

NZDCHF today reversed up from the multi-month support level 0.6330 – which also stopped the strong downtrend in September.

The support area near the support level 0.6330 was strengthened by the lower daily Bollinger Band.

Given the oversold daily Stochastic indicator – NZDCHF is expected to rise further and retest the next resistance level 0.6430 (former support from May and June).

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