NZD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.64970, 0.65451, 0.65500.
Key Support Levels: 0.64395, 0.63969, 0.63960.
The price on the higher time frame failed to break a strong support level around the 0.62440 USD mark and posted a bullish engulfing pattern which led to a reversal and a move higher. The market is posting higher highs and lows and succeeded to break the daily resistance (now support) around the 0.64395 USD level.
NZD/CHF Medium-Term Trend: Bullish
On the lower time frame, the price posted a two legs correction along with a bullish engulfing pattern signaling that the buyers are in control of the market. We expect further movement to the upside, but we will execute a buy limit order near the highlighted zone.
Buy Limit Order @ 0.64411
TP 1 @ 0.64958
TP 2 @ 0.65451
Stop Loss @ 0.64230
Trade Safely 🙂