NZDCHF Wave Analysis – 1 May, 2020

NZDCHF reversed from resistance area
Likely to fall to 0.5990

NZDCHF recently reversed down from the resistance area lying between the round resistance level 0,600 (which stopped the price in March), upper daily Bollinger Band and the 61.8% Fibonacci retracement of the previous extended impulse wave 1 from December.

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

NZDCHF is expected to fall further toward the next support level 0.5990 (which stopped the previous minor waves (a) and (b)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: NZDCHF

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