Technical analysis

NZDCHF Wave Analysis 14 May, 2021

• NZDCHF reversed from support area

• Likely to rise to resistance level 0.6625

NZDCHF recently reversed up from the support zone lying between the pivotal support level 0.6500 (former resistance from February, which has been reversing the price from the end of March), 50% Fibonacci correction of the upward impulse form December and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the previous impulse waves (iii) and 1.

NZDCHF is likely to rise further toward the next resistance level 0.6625 (which has been reversing the price from the end of March).

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