NZDCHF Wave Analysis 27 January, 2021

• NZDCHF reversed from resistance level 0.6420

• Likely to fall to support level 0.6315

NZDCHF recently reversed down from the resistance level 0.6420 (which has been reversing this currency pair from the start of June, as can be seen below) – intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level stopped the previous short-term impulse wave 3 from the middle of January.

Given the weakening bullish pressure on this currency pair – as is revealed buy the falling RSI indicator – NZDCHF is expected to fall further toward the next support level 0.6315.