Articles
03.02.21

NZDCHF at resistance level

The NZDCHF is up more than 22% from its March low, when investors were buying the Swiss franc as a safe haven during the pandemic outbreak. Since then, the New Zealand dollar has risen steadily and today hit the one-year resistance level around 0.6480 (C). Should this level be breached, the bulls would need a lot of strength to fight at the next resistances, which are close together around 0.6630 (D) and 0.6760 (E).

If the kiwi (another name for the New Zealand dollar) loses strength and the bears are able to push the exchange rate lower, the price could test the support level at the previous relative low around 0.6270 (B). Further weakness would take the pair below its moving averages and to support levels around 0.6000 (A).

 

Test your knowledge of investing and trading

Enter your email and get a free eBook.

This website uses cookies to improve your browsing experience and ensure the site works properly. By continuing to use this site you acknowledge and accept the use of cookies.

Accept all Accept only the necessary