NZD/CHF formed a top

NZD/CHF formed a top

Trade ideas

SELL at 0.6715; TP1 0.6625; TP2. 0.66; SL 0.6740

SELL at 0.6680; TP1 0.6650; TP2 0.6625; SL 0.6700

On W1, the advance of NZD/CHF stopped at the resistance line from 2017. The pair consolidated at the moving averages for some time but then turned lower guided by MACD.

NZDCHFWeekly.png

NZD/CHF closed below 200-day MA at 0.6735 thus confirming a top. The targets of the pattern lie around 0.6590. Daily MACD is declining. The pair’s testing levels below 38.2% Fibo (0.6700). The next Fibonacci level lies at 0.6625.

NZDCHFDaily.png

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