NZDCHF Technical Analysis Report 23 December, 2020

  • NZDCHF reversed from support area
  • Likely to rise to 0.6335

NZDCHF currency pair today reversed up with the daily Japanese candlesticks reversal pattern Bullish Engulfing from the support area lying between the pivotal support level 0.6235 (which has been reversing the price from November), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from October.

Given the predominant daily uptrend and the improvement in risk sentiment on hopes the mutant covid-19 virus can be successfully contained in UK due to strict travel restrictions-   NZDCHF index is likely to rise further toward the next resistance level 0.6335 (top of the previous short-term correction (ii) from the middle of December).

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