NZDCHF recently broke through the support area lying between the key support level 0.6750 (which stopped the previous short-term correction (iv) in November), 38.2% Fibonacci correction of the previous upward impulse from October, support trendline of the daily up channel from September and the 200-day moving average.
The breakout of this support area accelerated the active impulse wave 3 which belongs to the medium-term impulse wave (C) from the start of December.
NZDCHF is expected to fall further and re-test the next support level 0.6650 (target price for the completion of the active impulse wave 3).
NZDCHF recently broke through the support area lying between the key support level 0.6750 (which stopped the previous short-term correction (iv) in November), 38.2% Fibonacci correction of the previous upward impulse from October, support trendline of the daily up channel from September and the 200-day moving average.
The breakout of this support area accelerated the active impulse wave 3 which belongs to the medium-term impulse wave (C) from the start of December.
NZDCHF is expected to fall further and re-test the next support level 0.6650 (target price for the completion of the active impulse wave 3).
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