NZD/CHF broke key support level 0.6970

NZD/CHF broke key support level 0.6970

  • NZD/CHF broke key support level 0.6970
  • Next sell target - 0.6750

NZD/CHF continues to fall after the earlier breakout of the key support level 0.6970, which reversed the previous waves (a), B and 1, as can be seen from the daily NZD/CHF chart below. The breakout of this support level should accelerate the active minor impulse wave 3 – which belongs to the intermediate wave (C) from the end of July. NZD/CHF is expected to fall to next sell target at the next support level 0.6750 (low of the previous wave (A) from May).



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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