NZD/CHF falling inside primary impulse wave ③

NZD/CHF falling inside primary impulse wave ③

  • NZD/CHF falling inside primary impulse wave ③
  • Next buy target - 0.9800

NZD/CHF continues to fall inside the primary impulse wave ③, which started earlier from the resistance zone lying between the key resistance level 0.7320 (which stopped the previous impulse waves 3 and 5,as can be seen from the weekly NZD/CHF chart below) and the upper weekly Bollinger Band. Given the strength of the aforementioned resistance zone and the overbought reading on the weekly Stochastic indicator - NZD/CHF is expected to fall further to next sell target at the next round support level 0.7000 (which reversed earlier wave B).



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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