HomeContributorsTechnical AnalysisNZD/CHF 4H Chart: Two Scenarios Likely

NZD/CHF 4H Chart: Two Scenarios Likely

Since September, the NZD/CHF exchange rate has been appreciating within a rising wedge pattern.

From a theoretical perspective, it is likely that the currency pair could breach the predetermined pattern within the following trading sessions. Note that the pair could gain support from the Fibos 50.00% and 38.20%, located at 0.6246 and 0.6040 respectively.

Meanwhile, note that the exchange rate could gain support from the 55-, 100– and 200-period moving averages in the 0.6320 area. Thus, bulls could continue to prevail in the market.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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