Technical analysis of NZD/CHF
AUD/NZD falling inside minor impulse wave (iii)
- AUD/NZD falling inside minor impulse wave (iii)
- Next sell target - 1.0350
AUD/NZD continues to fall inside the minor impulse wave (iii), which started earlier from the resistance zone lying between the resistance level 1.0550 and the 38.2% Fibonacci correction of the previous sharp downward impulse from the middle of May. AUD/NZD is expected to fall to the next sell target at the next strong support level 1.0350 (former strong support level which reversed the price in January and February). Expect the price to correct up after reaching this support level.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.