Technical analysis of NZD/CHF
EUR/CHF rising inside minor impulse wave 5
- EUR/CHF rising inside minor impulse wave 5
- Next buy target - 1.0970
EUR/CHF continues to rise inside the minor impulse wave 5, which started earlier from the support area lying between the key support level 1.8200 (previous sell target), lower daily Bollinger Band and the 50% Fibonacci correction of the upward price impulse 3 from April. The price earlier broke above the resistance level 1.0900 – which strengthened the bullish pressure on this currency pair. EUR/CHF is expected to rise to the next buy target at the next resistance level 1.0970 (which stopped previous impulse 3).
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.