EUR/JPY broke key support level 131…
NZD/CHF reversed from multi-month support level 0.6730
- NZD/CHF reversed from multi-month support level 0.6730
- Next buy target - 0.6800
NZD/CHF continues to rise after the earlier strong upward reversal from the key multi-month support level 0.6730 (which stopped the previous sharp minor wave A in the middle of May) and the lower daily Bollinger Band. Given the strength of the support level 0.6730 - NZD/CHF is expected to rise toward the next buy target at the next resistance level 0.6800 (former support level which stopped the previous wave (a) at the end of October).
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.