NZDCHF Wave Analysis – 28 February, 2019

• NZDCHF reversed from resistance area
• Further losses are likely

NZDCHF recently reversed down from the resistance area lying between the key resistance level 0.6900 (which has been revering the price from December) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Evening Star.

NZDCHF is expected to fall further and re-test the next support level 0.6760.