NZDCHF Technical Analysis Report 17 August, 2021

• NZDCHF reversed from resistance area
• Likely to fall to support level 0.6300

NZDCHF currency pair recently reversed down from the resistance area located between the key resistance level 0.6450 (former key resistance from July), upper daily Bollinger band and the 61.8% Fibonacci correction of the previous sharp downward impulse wave from the start of July.

Given the persistent multi-month downtrend and the strongly bearish New Zealand dollar sentiment seen across the FX markets today – NZDCHF currency pair can be expected to fall further toward the next support level 0.6300 (which stopped the previous sharp downward impulse wave at the end of July).

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