NZD/CHF still in a downtrend, although pullback is expected
NZD/CHF bounced off the long-term downtrend trendline implying further downside pressure. Lower lows and lower highs are printed without any signs of a trend reversal.
While the prevailing trend remains bearish, we should expect a relatively strong pullback, potentially towards the 0.6326 zone. If NZD/CHF reaches this resistance, we will be looking for a selling opportunity.
While the prevailing trend remains bearish, we should expect a relatively strong pullback, potentially towards the 0.6326 zone. If NZD/CHF reaches this resistance, we will be looking for a selling opportunity.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.