NZDCHF Technical Analysis Report 24 November, 2020

  • NZDCHF broke resistance levels 0.6285 and 0.6325
  • Likely to rise to 0.6400

NZDCHF continues to rise strongly under the effect of the strong NZD optimism – on news the major vaccine producers will soon be station mass vaccination across Europe and USA. The pair earlier broke the resistance zone located between the resistance levels 0.6285 (former monthly high from June) and 0.6325 (former monthly high from February). The breakout of these resistance levels accelerated the active impulse waves 5 and (C).

Given the clear daily uptrend – NZDCHF is expected to rise further toward the next resistance level 0.6400 (target price for the continuation of the active impulse waves 5 and (C)). Strong support now stands at the support level 0.6325.

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