Source: PaxForex Premium Analytics Portal, Technical Insight
The recent strengthening of the NZD led the NZD/CHF pair to go beyond the upper boundary of the 20-day SMA-based Bollinger Band. If a close inside occurs, it could mean that bullish momentum has weakened and a bearish trend could develop.
NZD/CHF,D1
Pivot: 0.6566
Analysis:
While the price is above 0.6431, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.6566
- Take Profit 1: 0.6679
- Take Profit 2: 0.6753
Alternative scenario:
If the level 0.6431 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.6431
- Take profit 1: 0.6289
- Take Profit 2: 0.6204
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 0.6839 | 0.6431 |
| 0.6753 | 0.6289 |
| 0.6679 | 0.6204 |
