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NZD/CHF Potential Upward Movement

NZD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.65040, 0.65436, 0.65651.

Key Support Levels: 0.64537, 0.64117, 0.64000.

Daily Chart:

The price on the higher time frame found support around the 0.64117 CHF mark where it coincides with a 50% Fibonacci retracement level. The market moved higher and managed to break the daily resistance around the 0.64537 CHF level and it is expected to continue upward toward the next key level.

NZD/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair succeeded to break the bearish channel to the upside after posting higher lows and a series of big, bodied candlesticks. The pair is traded above the 0.64537 CHF mark where a lower correction could be seen to his area before a new bullish impulsive wave toward the target profit.

Signal Idea:

Buy Limit Order @ 0.64556

TP 1 @ 0.65027

TP 2 @ 0.65436

Stop Loss @ 0.64434

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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