October 20, 2020 at 03:36PM
• NZDCHF broke support area
• Likely to fall to 0.5900
NZDCHF recently broke sharply below the support area lying between the key support level 0.6010 (which stopped the previous short-term wave (a)) and the 50% Fibonacci retracement of the upward correction 2 from August.
The breakout of this support area accelerated the active short-term impulse waves 3 and (iii).
NZDCHF is likely to fall further toward the next support level 0.5900 (forecast price for the completion of the active minor impulse wave (iii)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/nzdchf-wave-analysis-20-october-2020-20201020/
Selected by fonecable.com
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