NZDCHF Wave Analysis 21 September, 2020

• NZDCHF reversed from resistance area

• Likely to fall to 0.6035

NZDCHF recently reversed down from the resistance zone located between the resistance level 0.6160 (top of the previous wave 2) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the previous short-term corrective wave (ii).

Given the bullish CHF sentiment seen today – NZDCHF is likely to fall further toward the next support level 0.6035 (low of the previous Morning Star and wave (i)).