NZDCHF Wave Analysis – 3 October, 2019

• NZDCHF reversed from the support area
• Likely to rise to 0.6310

NZDCHF recently reversed up with the daily Bullish Engulfing from the support area lying between the support level 0.6200 (which has been reversing the price from August) and the lower daily Bollinger Band.

The upward reversal from this support area started the active short-term ABC correction (ii).

NZDCHF is expected to rise further and retest the next resistance level 0.6310 (target price for the completion of the active correction (ii)).