NZD/CHF broke powerful support level 0.6940

NZD/CHF broke powerful support level 0.6940

2021-11-11 • Updated

  • NZD/CHF broke powerful support level 0.6940 
  • Next sell target - 0.6860

NZD/CHF continues to fall sharply – following the earlier breakout of the powerful support level 0.6940 (which stopped the previous sharp downward corrections 4 and (2), as can be seen from the daily NZD/CHF chart below). The breakout of the support level 0.6940 is following the earlier breakout of the support zone lying at the intersection of the key support level 0.7000 and the weekly channel line from 2016.

NZD/CHF is expected to fall further to the next sell target at the support level 0.6860 (monthly low from last July and the forecast price for the termination of the active minor impulse wave 3).

1.png

Similar

USD/CHF: approaching the bottom?
USD/CHF: approaching the bottom?

The US Dollar has been losing value against the Swiss franc for more than a month now. Let's examine where it might be going.

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera