NZD/CHF still in a downtrend, although pullback is expected
Updated
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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