Categories: Technical analysis

NZDCHF Wave Analysis 13 November, 2020

• NZDCHF reversed from resistance zone

• Likely to fall to 0.6200

NZDCHF recently reversed down from the powerful resistance zone located between the long-term resistance level 0.6300 (which has been reversing the price from February) and the upper daily Bollinger Band.

The downward reversal from this resistance zone created the daily Bearish Engulfing – which started the active short-term impulse wave 1.

NZDCHF is likely to fall down further toward the next support level 0.6200 (target price for the termination of the active minor impulse wave (i)).

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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