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FxPro Forex Analysis: NZDCHF Wave Analysis – 09 August , 2018

NZDCHF broke support zone
• Further losses are likely

NZDCHF recently broke sharply through the support zone lying between the support levels 0.6650 (which stopped the previous impulse wave 1) and 0.6700 (which has been reversing the price from last November).

The breakout of this support zone accelerated the active short-term impulse wave 3 of the medium-term impulse wave (3) from April.

NZDCHF is likely to fall further and re-test the next support level 0.6550 (target price for the completion of the active impulse wave (iii)).

NZDCHF - Primary Analysis - Aug-09 1629 PM (1 day)

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