NZDCHF recently reversed down from the pivotal resistance level 0.5800 (this is the 6th 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.
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