• NZDCHF reversed key resistance level 0.6275
• Likely to fall to support level 0.6177
NZDCHF recently reversed down from the powerful resistance level 0.6275 (which has been reversing the price from the start of December), intersecting with the upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from November.
The downward reversal from the resistance level 0.6275 stopped the earlier short-term impulse waves (i).
Given the strength of the resistance level 0.6275 – NZDCHF currency pair can be expected to fall further toward the next support level 0.6177 (low of the previous waves (iii), 1 and (b)).
Source: Fxpro
