NZD/CHF is currently testing a resistance level and may drop towards the 0.5225 support zone. Despite this, we advise caution and do not recommend initiating a sell position at this time, as market conditions could shift. Instead, we suggest waiting for a clear breakout above the 0.5320 resistance level before considering a buy. If this breakout occurs, there is potential for the pair to rally further, with an upside target around the 0.5500 level, signaling a more sustained bullish trend.
Trade closed: target reached
NZD/CHF hit our target of 0.5375, and we've closed our positions. However, if anyone is interested in holding, they can aim for 0.5500.
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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.