NZD/CHF 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The New Zealand Dollar is trading simultaneously in two descending channels against the Swiss Franc. The junior pattern is a representation of the pairs bounce off from the upper trend line of the dominant descending channel pattern. The medium term descending channel pattern has already passed the support provided by the 38.20% and 50.00% Fibonacci retracement levels, respectively, at 0.6952 and 0.6837. The retracement levels are measured by connecting the 2017 high and 2016 low level. The pair is heading to the combined support of the 61.80% Fibonacci retracement level and the lower trend line of the dominant channel near the 0.6730 level.
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Fri, 28 Apr 2017 11:41:37 GMT

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