NZD/CHF slumps to 29-month lows at 0.6454, trades with a major bearish bias.
Major trend is bearish, signs of minor pullback seen as mometum indicators approach oversold territory.
The pair is holding minor support at 0.6455 (falling trendline). 21-EMA is stif resistance. Break above could see extension of upside till 50-DMA.
Support levels - 0.6455 (trendline), 0.64, 0.6356 (61.8% Fib)
Resistance levels - 0.65, 0.6530 (5-DMA), 0.6587 (21-EMA)
Good to stay short on upticks. SL: 0.6590, TP: 0.64/ 0.6355
Major trend is bearish, signs of minor pullback seen as mometum indicators approach oversold territory.
The pair is holding minor support at 0.6455 (falling trendline). 21-EMA is stif resistance. Break above could see extension of upside till 50-DMA.
Support levels - 0.6455 (trendline), 0.64, 0.6356 (61.8% Fib)
Resistance levels - 0.65, 0.6530 (5-DMA), 0.6587 (21-EMA)
Good to stay short on upticks. SL: 0.6590, TP: 0.64/ 0.6355
Note
Approaching TP1Note
Approaching final target.Break below 61.8% Fib to see further weakness.
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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.