NZD/CHF Long-Term Trend: Bearish
Key Resistance Levels: 0.6387, 0.6427, 0.6450
Key Support Levels: 0.6330, 0.6315, 0.6295
The price on the higher time frame is in a clear downtrend where it found sellers around the 0.65100 USD mark, and it tumbled all the way to break the daily support around the 0.6390 USD. An inside candlestick has been posted near the resistance (0.6390 USD) which indicates that the sellers are still in control and in fact the price will further decline.
NZD/CHF Medium-Term Trend: Bearish
On the lower time frame, the price posted a correction count to the strong resistance around the 0.6382 USD mark. In addition, a head and shoulders is posted near this which could lead to a reversal and a move to the downside toward the target profit.
Sell Limit Order @ 0.6382
TP 1 @ 0.6338
TP 2 @ 0.6315
Stop Loss @ 0.6399
Trade Safely 🙂