NZD/CHF recently broke the key resistance level 0.5804, which was recently identified by Autochartist. Autochartist rates the significance of this resistance level at the 6-bar level – which is the result of the six previous reversals from this price level. NZD/CHF is expected to rise toward the forecast price 0.5816.

As can be seen from the daily NZD/CHF chart below – the price earlier reversed up from the support zone located between the key support level 0.5750, lower daily Bollinger Band and the 50% Fibonacci correction of the pervious sharp upward impulse from October. The proximity of these support levels increases to the probability NZD/CHF will continue to rise toward the forecast price 0.5816.


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