NZD/CHF 1H Chart: Short-term channel in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

The New Zealand Dollar has been depreciating against the Swiss Franc since the middle of March when the NZD/CHF currency pair reversed from the upper boundary of the short-term ascending channel at 0.6920.  

Currently, the pair is trading near the lower channel line at 0.6753. From a theoretical perspective, the exchange rate should reverse north and target the upper channel line. However, the rate has to surpass the resistance cluster formed by the 55-, 100– and 200-hour SMAs in the 0.6803/0.6837 range.  

If the given resistance holds, a breakout south from the channel might occur in the nearest future. A possible downside targets the psychological level at 0.6700.

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