NZDCHF Wave Analysis – 01 April, 2020

• NZDCHF reversed from resistance area
• Likely to fall to 0.5600

NZDCHF recently reversed down from the pivotal resistance level 0.5800 (this is the 6^th consecutive downward reversal from this resistance level), intersecting with the 50% Fibonacci correction of the previous weekly downward impulse from February.

The downward reversal from this resistance area started the active short-term correction B of the ABC wave (2).

Give the strength of the daily downtrend – NZDCHF is likely to fall further toward the next support level 0.5600.