Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
NZD/CAD reached buy target 0.9450
- NZD/CAD reached buy target 0.9450
- Next buy target - 0.9630
NZD/CAD recently broke the resistance level 0.9450, which reversed the previous correction (iv) and which was set as the buy target in our earlier forecast for this currency pair. The breakout of the resistance level 0.9450 coincided with the breakout of the 50% Fibonacci correction level of the previous sharp downward impulse C-wave from February.
NZD/CAD is expected to rise to the next buy target at the key resistance level 0.9630 (which has reversed the price multiple times from November, as can be seen from the daily NZD/CAD chart below).
Dmitry Chernovolov
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