NZDCHF Chart Technical Outlook

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.

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