NZD/CHF rising inside minor impulse wave 3

NZD/CHF rising inside minor impulse wave 3

  • NZD/CHF rising inside minor impulse wave 3
  • Next buy target - 0.7160

NZD/CHF continues to rise inside the minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the start of September. The active impulse wave (3) started when the pair reversed up from the support zone lying between the pivotal support level 0.6850 (which reversed the previous minor correction 2 in June, as can be seen below) and the lower daily Bollinger Band. NZD/CHF is expected to rise further to the next buy target at the next resistance level 0.7160.



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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