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.

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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