December 11, 2020 at 03:24PM

• NZDCHF rising inside wave (b))

• Likely to test resistance level 0.6375

NZDCHF recently reversed up from the key support level 0.6235 (former low of wave (iv) from November) – standing close to the lower daily Bollinger Band and 38.2% Fibonacci correction of the upward impulse 1 from October.

The upward reversal from the support level 0.6235 started the active short-term correction (b). NZDCHF is expected to rise further toward the next resistance level 0.6375 (top of the previous impulse wave 1 and the target for the completion of the active wave (b)).

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From: The FxPro Tech Analysis Team
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