Technical analysis

NZDCHF Wave Analysis 19 February, 2021

NZDCHF Wave Analysis 19 February, 2021

• NZDCHF broke resistance level 0.6500

• Likely to reach resistance level 0.6550

NZDCHF rose sharply today – on improved risk sentiment (which is driving Swiss franc sales) – above the resistance level 0.6500 (top of the previous impulse wave (i)).

The breakout of the resistance level 0.6500 should be followed with the daily close above this price level – for the predominant uptrend to continue.

If the pair closes above the resistance level 0.6500 – NZDCHF can then be expected to rise further toward the next resistance level 0.6550.

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