LeoPrime Daily Market Analysis

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NZDCHF broke daily Triangle; Likely to rise to 0.61900

NZDCHF recently broke the resistance trendline of the extended daily Triangle from May. The breakout of this Triangle continues the active short-term corrective weave (ii) from the start of September. Given the strongly bearish Swiss franc sentiment seen across the FX markets today – NZDCHF is likely to extend the gains toward the next resistance level 0.61900 (top of the previous correction 2) – the breakout of which will likely lead to the test of 0.62200 (monthly high form July).

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