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November 13, 2020 @ 18:23 +03:00
• NZDCHF reversed from resistance zone
• Likely to fall to 0.6200
NZDCHF recently reversed down from the powerful resistance zone located between the long-term resistance level 0.6300 (which has been reversing the price from February) and the upper daily Bollinger Band.
The downward reversal from this resistance zone created the daily Bearish Engulfing – which started the active short-term impulse wave 1.
NZDCHF is likely to fall down further toward the next support level 0.6200 (target price for the termination of the active minor impulse wave (i)).