NZDCHF recently broke below the key support level 0.62350 (which has been repeatedly reversing the price from last October, as can be seen form the daily NZDCHF chart below). The breakout of this support level strengthened the bearish pressure on this currency pair – accelerating the active impulse wave (3). Given the clear daily downtrend and the strong bearish sentiment affecting the New Zealand dollar – NZDCHF is expected to fall further toward the next support level 0.61600 (multi-month low from August).
