NZDCHF Wave Analysis – 20 February, 2019

• NZDCHF reversed from multi-month resistance level 0.6900
• Further losses are likely

NZDCHF recently reversed down from the multi-month resistance level 0.6900 (which has been reversing the price from the middle of November, as can be seen below) – strengthened by the upper daily Bollinger Band.

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

NZDCHF is expected to fall further and re-test the next support level 0.6800 (target price for the completion of the active impulse wave (i)).