NZDCHF Wave Analysis 4 January, 2021

• NZDCHF reversed from resistance level 0.6375

• Likely to fall to 0.6250

NZDCHF recently reversed down strongly from the key resistance level 0.6375 (which earlier reversed the price multiple times at the end of November).

The resistance area near the resistance level 0.6375 was strengthened by the upper daily Bollinger Band.

Given the clear bearish divergence on the daily RSI indicator – NZDCHF is expected to fall further toward the next support level 0.6250 (low of the previous waves 4, A and (2)).