NZD/CHF broke resistance zone

NZD/CHF broke resistance zone

  • NZD/CHF broke resistance zone
  • Next buy target - 0.7130

NZD/CHF continues to rise inside the intermediate impulse wave (3) , which previously broke through the resistance zone lying between the pivotal resistance level 0.7010 (which reversed the previous minor corrective wave (b) in the middle of October) and 50% Fibonacci correction of the previous intermediate impulse wave (C) from the end of July. The breakout of this resistance zone accelerated the active impulse wave (3). NZD/CHF is expected to rise to the next buy target at the next resistance level 0.7130 (monthly high from September).



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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