NZD/CHF: trade ideas

NZD/CHF: trade ideas

Trade ideas

SELL 0.6500; TP 0.6450; SL 0.6515

BUY 0.6535; TP1 0.6555; TP2 0,6580; SL 0.6420

The NZD remains in a downtrend versus the CHF and the JPY as the market is still in the risk-averse mode. NZD/CHF looks better for trading. It came close to the key support in the 0.6505 area (January low). A decline below this level will open the way down to 0.6450 (78.6% Fibo of the 2018 advance).

If the support holds and NZD/CHF recovers above 0.6530, it will get a chance to retest 0.6550 and maybe 0.6585 (the top of the 3-week trading range).   

NZDCHF.png

Similar

Important levels for CHF/JPY

CHF/JPY met the resistance of the declining 50-day MA and turned down. Its potential target lies at the support line connecting the lows of May in the 108.25 area.

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