NZDCHF Wave Analysis – 13 May, 2020

• NZDCHF udder bearish pressure

• Likely to fall to 0.5800

NZDCHF udder bearish pressure after the earlier downward reversal from the resistance area lying between the resistance level 0.5970, upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from December.

The downward reversal from this resistance area started the active medium-term downward impulse wave (3).

NZDCHF is expected to fall further toward the next support level 0.5800 (which stopped the previous impulse wave (1)).