NZDCHF Technical Analysis Report 11 August, 2021

• NZDCHF broke key resistance level 0.6440
• Likely to rise to resistance level 0,6550

NZDCHF currency pair continues to rise after recently breaking the key resistance level 0.6440 (which has been reversing the pair from the start of July as can be seen from the daily NZDCHF chart below). The breakout of the resistance level 0.6440 coincided with the breakout of the 61.8% Fibonacci correction of the downward impulse from the start of July – which accelerated the active short-term correction 2.

Given the moderately bullish New Zealand sentiment seen today – NZDCHF currency pair can be expected to rise further toward the next resistance level 0,6550 (previous monthly high from the start of July).

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