- NZDCHF broke key resistance level 0.6300
- Likely to rise to 0.6420
NZDCHF continues to rise strongly after the pair broke sharply above the key resistance level 0.6300 (which previously reversed the price in June, as can be seen from the daily NZDCHF chart below). The breakout of the resistance level 0,6300 accelerated the active minor impulse wave (iii) – which belongs to the extended upward impulse sequence (C) from the middle of August.
Given the multi-month uptrend that can be seen on the daily NZDCHF charts and the growing risk-on sentiment across the currency markets – NZDCHF is expected to rise further toward the next resistance level 0.6420 (which is the target price calculated for the completion of the active minor impulse waves (iii) and 3).