NZDCHF Chart Technical Outlook completes 5-wave at 0.5111, correcting lower
The cross completed a bullish Elliott Wave count (5 waves) on September 29 with a swing high of 0.5511. We are now in the corrective sequence lower. I can see no immediate reason for a change of trend:
- Bespoke support is located at 0.5379
- An AB=CD formation would take NZD/CHF to 0.5368.
- The projected AB leg of about formation is seen at 0.5336.
