NZD/CHF 1H Chart: Ascending triangle in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
 MACD(12;26;9) Buy Buy Buy
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Neutral Neutral
 Alligator(13;8;5) Buy Buy Buy
 SAR(0.02;0.2) Sell Buy Buy
 Aggregate

The NZD/CHF currency pair has been trading between the psychological level at 0.6750 and the upper boundary of the ascending triangle pattern at 0.6917 since the end of January.  

As apparent on the chart, the exchange rate has already tested the upper pattern line. From a theoretical perspective, it is expected that the rate declines towards the lower pattern boundary. Important support level to look out for is the monthly PP at 0.6764.  

However, given that the pair is being supported by the 200-hour SMA, it is likely that the rate re-tests given pattern in the nearest future. If given triangle does not hold, a breakout north occurs within following sessions.

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