NZDCHF recently reversed down from the key resistance level 0.62000 (former support from the end of January and the top of the previous short term impulse wave (ii) from the start of July). The downward reversal from the resistance level 76.700 stopped the previous short-term ABC correction 2. Given the clear bearish divergence on the daily Stochastic indicator and the rising bullish Swiss franc sentiment seen across the FX markets today – NZDCHF is likely to correct down further toward the next support level 0.61000 (low of the earlier corrective wave (ii)).