• NZDCHF reversed from powerful support area
• Likely to rise to resistance level 0.6425
NZDCHF currency pair under the bullish pressure after the pair reversed up from the powerful support area located between the multi-month support level 0.6300 (which has been reversing the pair from January), lower daily Bollinger band and the support trendline of the daily down channel from the end of February. The upward reversal from this support area stopped the previous impulse waves 3 and (iii).
Given the strength of the aforementioned support area – NZDCHF currency pair currency pair can be expected to rise further toward the next resistance level 0.6425 (previous minor reversal high from the middle of July).