NZD/CHF: sell targets – 0.6900 and 0.6800
By: Dima Chernovolov
- NZD/CHF falls inside intermediate impulse wave (3)
- Next sell targets – 0.6900 and 0.6800
NZD/CHF has been falling sharply in the last few days – after the pair broke the strong pivotal support level 0.7200 (which reversed the previous waves 3, (B), (1) and 1). The breakout of this support level greatly accelerated the active minor impulse 3 of the 3rd intermediate impulse wave (3) from last month (which started when the pair failed to break above the strong resistance zone lying at the intersection of the 200-day moving average and the resistance level 0.7450).
NZD/CHF is likely to fall further inside the active impulse waves 3 and (3) toward the next sell targets 0.6900 and 0.6800.