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NZD/CHF Potential Upward Movement

Key Resistance Levels: 0.6534, 0.6652, 0.6720

Key Support Levels: 0.6428, 0.6357, 0.6309

NZD/CHF Price Long-Term: Bullish

Daily Chart:

Looking at the daily chart, the price is in a clear upward movement by posting higher highs and lows. Currently, the pair is trading above the daily resistance @ 0.6428 which could lead to a move upward in the coming days.

NZD/CHF Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hour time frame, the pair found buyers at the 50% Fibonacci retracement, and currently posted a big engulfing bullish candlestick on the 1-hour time frame signaling a potential pump toward the 0.6534 level.

Signal Idea:

Buy Order @ 0.6449

TP 1 @ 0.6534

TP 2 @ 0.6652

Stop Loss @ 0.6407

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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