NZD/CHF: sell target – 0.6200
By: Dima Chernovolov
- NZD/CHF reached sell target 0.6450
- Next buy target – 0.6200
NZD/CHF yesterday broke sharply below the strong support level 0.6450 which previously stopped the sharp intermediate impulse wave (1) in January (as you can see below) and which was set as the sell target in our previous forecast for this instrument. The breakout of this support level is likely to intensify the bearish pressure on this currency pair in the coming trading sessions.
NZD/CHF is set to fall further toward the next sell target at the support level 0.6200 (forecast price calculated for the termination of the active impulse waves 5 and (3)). Strong resistance remains at 0.64550.